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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.

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