Fintech
UBS invests in climate fintech Doconomy
Doconomy, the climate fintech, has raised €34 million in a Series B funding round co-led by CommerzVentures and the venture capital arm of UBS.
S&P Global, Motive, PostFinance and Tenity joined the round for Sweden-based Doconomy, previously backed by Citi and Mastercard.
The climate company provides financial services providers with tools to help their customers measure the carbon footprint of their daily spending.
Its cloud-based AIand Index, which converts every transaction into its corresponding carbon footprint, is used by more than 100 companies in more than 40 countries.
The new funding will be used to enhance the Doconomy product suite and expand into North America.
Mathias Wikström, CEO of Doconomy, says: “Our unique solution enables users to be more money and climate conscious, while increasing banks’ profits by helping them better understand and engage their customers for a positive impact.”