Doconomy Raises €34M to Drive Climate Action and Financial Wellbeing

Doconomy, a leading impact fintech company, has recently closed one of Europe’s largest funding rounds in the sector. The round was co-led by UBS Next, the venture and innovation arm of UBS, and CommerzVentures, a venture capital firm specializing in climate fintech.

S&P Global also joined the round as a new investor, alongside existing investors Motive, PostFinance, and Tenity.

Key Highlights

• Funding Round Leaders: UBS Next and CommerzVentures co-led the round, with participation from new investor S&P Global and existing investors Motive, PostFinance, and Tenity.
• Expansion Plans: The capital injection will fuel Doconomy’s expansion in North America and enhance its product suite to drive broader engagement and adoption.
• Innovative Solutions: Doconomy provides banks with tools to encourage climate-friendly choices and support financial wellbeing.

Unique Offerings and Impact

Doconomy’s innovative solutions are grounded in behavioral science and enhanced by innovative impact data analytics.

These solutions, borne out of the strategic acquisition of Dreams Technology in February 2023, help banks worldwide bridge the gap between intention and action among their client bases.

• Consumer Demand: Research shows that 63% of consumers globally seek more sustainable options for products and services, and 64% believe financial institutions play a key role in promoting sustainable living.
  
  However, 53% of consumers feel that banks are currently absent from the sustainability debate.

Leadership

Mathias Wikström, CEO and Co-Founder of Doconomy, emphasizes the company’s mission to make sustainability the norm and accessible to all.

He states, “We want to make every transaction count by empowering everyone to play their part in tackling the climate crisis. Our unique solution empowers users to be more money and climate conscious, while also boosting banks’ bottom line by helping them better understand and engage their customers for positive impact.”

Doconomy’s Product Suite

• Impact Transactions: Converts financial transactions into real-world environmental footprints, measuring CO₂e impact based on the Åland Index methodology.
• Impact Finance: A goal-based savings solution that encourages mindful consumption and investment decisions, aligning financial wellbeing with emission reduction targets.
• Impact Activity: In partnership with the UNFCCC, this module offers a comprehensive self-assessment tool for individuals to understand their total environmental footprint.
• Impact Education: Provides content and tools to help individuals achieve a more sustainable lifestyle and reduce their climate footprint.

About Doconomy

Founded in Sweden in 2018 by Mathias Wikström and Johan Pihl, Doconomy aims to ensure the future sustainability of life on Earth by empowering individuals and corporations to take responsibility for their environmental footprint.

Serving over 100 clients in 35 markets, Doconomy has established key partnerships with renowned organizations such as the United Nations Framework Convention on Climate Change (UNFCCC), Mastercard, S&P Trucost, and the World Wildlife Fund (WWF).