Doconomy Announces the Completion of One of Europe’s Largest Funding Rounds in the Sector
Doconomy, a leading impact fintech company providing banks with innovative tools to drive climate action and financial wellbeing, has announced the closure of 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 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, also joined the round. Other prominent existing investors, including Motive, PostFinance, and Tenity, participated as well.
Doconomy empowers banks worldwide to bridge the gap between intention and action among their client bases by providing tools that encourage climate-friendly choices while supporting financial wellbeing.
Grounded in robust behavioral science and enhanced by superior impact data analytics, this powerful, first-of-its-kind solution emerged from Doconomy’s strategic acquisition of Dreams Technology in February 2023.
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 lives, and 64% believe that financial institutions have a key role to play in promoting sustainable living and consumerism. Yet, 53% of consumers feel that banks are absent from this debate.
The capital injection will fuel Doconomy’s expansion in North America and support the enhancement of its product suite to drive broader engagement and adoption of its tools.
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.”
Paul Morgenthaler, Managing Partner of CommerzVentures, adds: “Doconomy empowers banks’ customers to make the best decisions, both for their finances and for the planet. Their solution couldn’t be timelier, as consumers around the world are looking for answers on how to build a sustainable future for themselves and their families. We are thrilled to have invested again in this Series B round, supporting Doconomy’s expansion across the globe.”
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.”