Doconomy is reporting a €34 million Series B funding round led by S&P Global, UBS Next, and CommerzVentures. S&P is a new investor, and other existing investors who participated in the funding round include Motive Ventures, PostFinance, and Tenity.
Doconomy is an “impact Fintech” that offers a carbon footprint tool for financial transactions.
Founded in Sweden in 2018 by Mathias Wikström and Johan Pihl, Doconomy holds a mission to ensure the future sustainability of life by monitoring responsibility for their environmental footprint. Doconomy currently serves over 100 clients in 35 different markets.
Wikström, CEO of Doconomy, says they want to help build a world where sustainability is the norm.
“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. “
Michael Baldinger, UBS’s Chief Sustainability Officer, says the investment underscores the bank’s 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.”
The funding is said to allow Doconomy to work with more banks globally and fuel its expansion in North America, as well as the enhancement of its product suite.
