Doconomy announces the closure of one of Europe’s largest funding rounds in the sector

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.

The capital injection will fuel Doconomy’s expansion in North America, as well as supporting 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.”

About Doconomy’s products:

Impact Transactions: The leading carbon footprint tool for financial transactions. Converts financial transactions into real-world environmental footprint by measuring their CO₂e (carbon dioxide equivalent) impact based on the Åland Index methodology.

Impact Finance: A goal based savings solution that empowers your customers to improve their financial wellbeing and shape sustainable behaviors. With Impact Finance, banks can inspire customers to make more mindful consumption, lifestyle choices, and investment decisions by coupling their financial wellbeing and life goals with the longer term targets around reducing emissions.

Impact Activity: Launched in partnership with the UNFCCC, this module is a comprehensive self-assessment tool that gives individuals direct clarity on their total environmental footprint.

Impact Education: A module that inspires and empowers individuals to achieve a more sustainable lifestyle, providing content and tangible tools to help reduce one’s climate footprint.

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).

About UBS 

UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages 5.7 trillion dollars of invested assets as per fourth quarter 2023. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

About CommerzVentures

CommerzVentures is a specialist fintech investor with €550m under management. CommerzVentures backs early and growth-stage companies in the fintech, insurtech and Climate FinTech sectors. A returns-driven Europe-first investor, CoV Management GmbH is the independent manager of the CommerzVentures funds. Commerzbank AG is the anchor investor across all three funds.

About S&P Global

S&P Global (NYSE: SPGI) provides essential intelligence. It enables governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping its customers assess new investments to guiding them through ESG and energy transition across supply chains, it unlocks new opportunities, solves challenges and accelerates progress for the world. S&P Global is widely sought after by many of the world's leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of its offerings, S&P Global helps the world's leading organizations plan for tomorrow, today.