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Wednesday, June 29, 2022

Swedish climate impact technology company Doconomy raises $17M

Doconomy has announced raising a $17M investment round. The Stockholm-based company has now raised a total of $24M since its inception in 2018.

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The investment round was led by fintech specialist, CommerzVentures;  some notable companies from their portfolio include eToro and Mambu.Existing investors such as Mastercard, Wiklöf Holding and Ålandsbanken increased their investments in Doconomy.

The funds will allow Doconomy to continue its expansion and support the development of its impact applied portfolio; enabling impact calculations on transactions, lifestyle, products and companies of all shapes and sizes. The funding will also be used to recruit new hires to join Doconomy’s growing team.

Doconomy’s Åland Index lets customers assess the impact of a service solution, including climate calculated financial data which presents both CO2e and H2O impact per transaction. Doconomy’s technology and connectivity also powers impact calculations on product level through the 2030calculator.com for over 2.000 users from brands, media and academia. The University of Oxford’s  list the tool as part of the initiatives that can have a positive impact in shaping a better future.

“As the market leader, shaping the language for impact in every transaction, we help users calculate 3 million transactions per day. We are proud to help educate the many and 2021 has presented rapid growth. We have significantly built out our bank connections across Europe and Asia and will soon assist additional markets.” says ​​Mathias Wikström, co-founder and CEO of Doconomy  

Paul Morgenthaler, Partner of CommerzVentures, comments: “At CommerzVentures we are intrigued by the potential of FinTech to foster climate action. Doconomy stands out as the global leader and standard for measuring transaction impacts. We couldn’t be more excited about joining forces, helping banks and payment companies educate and empower their customers for climate action.”

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