Doconomy, a climate-focused fintech based in Sweden, has successfully secured EUR 34 million in a Series B funding round, with CommerzVentures and UBS’s venture arm leading the investment. The funding round also saw participation from notable investors such as S&P Global, Motive, PostFinance, and Tenity, adding to the support previously garnered from Citi and Mastercard.
The company specializes in providing financial institutions with innovative tools that enable users to evaluate the carbon footprint associated with their everyday purchases. With its advanced cloud-based AI and Index technology, Doconomy converts every transaction into its corresponding CO2 footprint, serving over 100 financial entities across more than 40 countries.
The newly acquired funding will be allocated towards enhancing Doconomy’s product offerings and expanding its presence in North America. Mathias Wikström, the CEO of Doconomy, stated, “Our distinctive solution enables users to make informed financial and climate-conscious decisions, while simultaneously enhancing banks’ profitability by fostering a deeper understanding and engagement with their customers to drive positive change.”
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