Doconomy, a Stockholm-based fintech company, continues to break ground in the sector. It recently secured significant investment to expand its climate-conscious financial tools.
With €34M in new funding, the company is poised to enhance its offerings and extend its reach. The investment underscores the growing importance of sustainable financial practices.
Doconomy is leading the charge in transforming the financial sector with its suite of impact fintech solutions. Their mission is to aid banks globally in facilitating climate action and financial well-being. By partnering with over 100 banks globally, they aim to bridge the gap between intention and action, encouraging environmentally conscious choices among consumers.
The organisation presents an array of innovative products empowered by the Åland Index. This includes Impact Transactions, which translate financial transactions into tangible environmental footprints by measuring CO₂e impacts. They also provide Impact Finance, a savings solution promoting sustainable consumer behaviour, and Impact Activity, developed with UNFCCC for clear environmental footprint insights.
The €34M funding round co-led by UBS Next and CommerzVentures reinforces Doconomy’s strategy for expansion. Mathias Wikström, Doconomy’s CEO, stated, “Our solution empowers users to be more money and climate conscious.” He acknowledges the role of substantial funding in aligning sustainability with profitability and plans to use the funds to enhance product offerings and market reach.
Prominent investment entities are rallying behind Doconomy, as evidenced by UBS’s Chief Sustainability Officer, Michael Baldinger. Baldinger emphasises fostering innovation for informed investment choices. Similarly, CommerzVentures echoes this sentiment, highlighting the urgent demand for sustainable future solutions. These partnerships are essential in propelling Doconomy’s mission forward.
Founded in 2018, Doconomy stands at the forefront of impact solutions, balancing environmental responsibility and profitability. The company’s partnerships with UNFCCC, Mastercard, and WWF underscore its commitment. Recent milestones, such as acquiring Dreams Technology, aid in advancing their goals of promoting financial wellbeing intertwined with climate consciousness.
Doconomy illustrates the financial sector’s potential in addressing climate challenges. By investing in innovative tools and strategic partnerships, they are paving the way for a sustainable future.
Their journey emphasises the role of conscious financial practices in global climate efforts. As banks adopt these solutions, the impact on consumer behaviour and the environment will be profound.
