Fintech
Climate Impact Fintech Doconomy raises $37 million to help consumers make sustainable choices
Swedish fintech company Doconomy announced today that it has raised €34 million ($37 million) in a Series B funding round, with the funding proceeds aimed at expanding the capabilities of its solutions that help consumers make choices more sustainable.
Founded in 2018, Doconomy has developed tools for banks to promote climate action and well-being, enabling users to make environmentally sustainable financial decisions and helping consumers measure and understand the environmental impact of their transactions, enabling more sustainable choices.
Doconomy’s solutions include “Impact Transactions”, a carbon footprint tool that converts financial transactions into a real environmental footprint by measuring their CO2 impact, “Impact Finance”, a goal-based savings solution aimed at improving financial well-being and sustainable behaviors, “Impact Activity” a self-assessment tool that gives individuals direct clarity on their total environmental impact, and “Impact Education,” which provides tangible content and tools to help reduce their footprint user climate.
Mathias Wikström, CEO and co-founder of Doconomy, said:
“Doconomy works to help build a world where sustainability is the norm and accessible to all. We want every transaction to count by giving everyone the chance to do their part in the fight against the climate crisis.”
The round was co-led by UBS Next, the venture and innovation arm of UBS, and existing investor CommerzVentures, a venture capital firm specializing in climate fintech. S&P Global joined the round as a new investor alongside existing investors Motive Ventures, PostFinance and Tenity.
Doconomy said it will use the new capital to fuel its expansion in North America, as well as support improvements to its product suite.
Michael Baldinger, Chief Sustainability Officer at UBS, said:
“UBS Next’s investment in Doconomy underlines our focus on driving innovation to provide the data and actionable insights our clients need to make informed choices about their investments and realize the change they want to see.”