Impact FinTech company Doconomy has secured €34m in a Series B funding round, aimed at enhancing its sustainability capabilities in the financial services sector.
The investment round was co-led by UBS Next, the venture arm of UBS, and CommerzVentures, a climate FinTech specialist, with additional support from S&P Global.
Doconomy, known for providing banks with innovative tools to drive climate action and financial wellbeing, plans to use the new funding to expand its operations in North America and enhance its product suite. The company collaborates with over 100 banks globally, helping to close the gap between climate commitments and actions by encouraging sustainable choices among bank clients.
The recent funding will support Doconomy’s mission to empower more banks to mobilize their clients towards positive climate impact. The company’s tools, grounded in robust behavioural science and enhanced by impact data analytics, are designed to make sustainability accessible and practical for consumers.
Doconomy’s solutions meet rising expectations for banks to play a greater role in helping customers manage their environmental footprint. Research indicates that a significant percentage of consumers globally are seeking more sustainable options, with many believing that financial institutions should play a key role in this shift.
The capital injection will fuel further expansion in North America and support the enhancement of Doconomy’s product suite, aiming to drive broader engagement and adoption of its tools.
Doconomy CEO and co-founder Mathias Wikström said, “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.”
UBS Chief Sustainability Officer Michael Baldinger commented, “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.”
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