Everyday climate action financial services provider Doconomy closes €14.5 million round

Stockholm-based Doconomy has closed a €14.5 million investment round, bringing its total raised to date to approximately €20.4 million. The startup provides financial processing services, but more interestingly, does so with included data that calculates both CO2e (carbon dioxide equivalent)and H2O impact per transaction.

Processing close to 90 million transitions per month in 20 markets, the new funding will help Doconomy recruit new team members with the ultimate goal of expanding into 10 new markets by year's end.

As mentioned above, Doconomy also provides customers including Klarna and Nordea with a number of tools that help them assess the impact of their solutions, the least of which includes CO2e and H2O numbers via its API-based Åland Index.

In addition to Klarna and Nordea, Doconomy also counts Bank of the West BNP Paribas, Emeco, Findomestic, Standard Chartered, Proximus, Paybox, Flowe, OLB, Triwa, and Ålandsbanken amongst its client base, and is active in Sweden, UK, France, Spain, Germany, Italy, Portugal, Denmark, Finland, Norway, Belgium, Austria, Netherlands, Poland, Australia, Canada, U.S., Sri Lanka, Taiwan, and Pakistan.

“We help users calculate 3 million transactions per day. We are proud to help educate the many and 2021 has presented rapid growth,” commented co-founder and CEO Mathias Wikström. “With banks representing over 360 million users already teaming up with Doconomy our expansion into lifestyle, product and corporate impact calculations looks promising.”

Doconomy’s largest climate-focused fintech raise on record was led by a new investor, CommerzVentures, and saw the participation of existing investors (previous round lead) Mastercard, Wiklöf Holding, and Ålandsbanken.