Swedish climate fintech Doconomy bags €34m in Series B funding

Doconomy Series B Funding:
- Raised €34 million in a Series B round.
- Co-led by UBS Next and existing investor CommerzVentures.
- Joined by previous backers Tenity, Motive Ventures, PostFinance, and new investor S&P Global.
Use of Funds:
- Expand operations in North America.
- Increase engagement and adoption of its tools.
- Further develop its product suite.
Company Background:
- Founded in 2018 by Mathias Wikström and Johan Pihl.
- Focuses on sustainability by helping individuals and corporations manage their environmental footprint.
Client Base:
- Serves over 100 clients across 35 markets.
Key Product:
- Offers climate-focused transaction and savings solutions using the proprietary Åland Index.
- The Åland Index calculates the climate impact of financial activities, including CO2 and H2O emissions from payments and transactions.
Recent Acquisition:
- Acquired Dreams Technology to enhance digital engagement tools by combining it with expertise in quantifying environmental footprints.