Doconomy funding news – Fintech Startup Doconomy Secures €34 Million in Series B Round Funding

The round was co-led by UBS Next, the venture and innovation arm of UBS, and existing investor CommerzVentures, a pioneering venture capital firm specializing in climate fintech.

New investor S&P Global which provides credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets joined the round. Other prominent existing investors Motive, PostFinance and Tenity participated in the round.

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Doconomy empowers banks worldwide to help close the gap between ‘say’ and ‘do’ amongst their client bases, by providing tools which encourage climate-friendly choices whilst supporting financial wellbeing.

Doconomy’s unique offering meets rising expectations for banks to play a greater role in helping their customers manage their environmental footprint practically. Research* shows that 63% of consumers globally are looking for more sustainable options for products and services across all aspects of their life, and 64% believe that financial institutions have a key role to play around sustainable living and consumerism. Yet, half (53%) of consumers see banks as being absent from the debate.

Mathias Wikström, CEO and Co-Founder, says: “Doconomy works to help build a world where sustainability is the norm - and accessible to all. We want to make every transaction count by empowering everyone to play their part in tackling the climate crisis. To empower banks to be global change makers we know we need to align planet, purpose and profit. 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. We could not achieve our goal for a more sustainable future without the invaluable support of our partners, and we are thrilled to welcome UBS and S&P Global on board with this mission. Together, we can drive positive climate impact on a truly global scale.”

Michael Baldinger, Chief Sustainability Officer of UBS, says: “UBS Next's investment in Doconomy underscores our focus on fostering innovation to provide the data and actionable insights our clients need to make informed choices about their investments and effect the change they want to see.”

Chris Heusler, President of S&P Global Sustainable1 says: “To enable change it is essential to have transparency on the impact of consumer behavior and actionable insights that help market participants make informed choices. Doconomy empowers banks and their clients in their sustainability journey and we are excited to be part of this investment round to ensure Doconomy can continue to innovate.”

About Doconomy

Doconomy, founded in Sweden in 2018 by Mathias Wikström and Johan Pihl, is a world-leading provider of applied impact solutions. Its core mission is to ensure the future sustainability of life on Earth by empowering individuals and corporations to assume responsibility for their environmental footprint, fostering a sustainable lifestyle for all.

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