Doconomy Raises $17M in Funding

Doconomy, a Stockholm, Sweden-based global climate impact technology company, raised $17M in funding.

The round, which brings the total invested in Doconomy since the start of 2018 to $24m, was led by CommerzVentures with participation from existing investors such as Mastercard, Wiklöf Holding and Ålandsbanken.

The company intends to use the funds to:

  • accelerate continued expansion,
  • support the further development of its impact applied portfolio; enabling impact calculations on transactions, lifestyle, products and companies of all shapes and sizes, and
  • recruit new hires.

Led by Mathias Wikström, co-founder and CEO, and Johan Pihl, co-founder and CIO, Doconomy leverages an API to provide Åland Index, which allows customers to assess the impact of a service solution, including climate calculated financial data which presents both CO2e and H2O impact per transaction. The technology and connectivity also powers impact calculations on product level through the for over 2.000 users from brands, media and academia. The tool is part of the University of Oxford’s list of initiatives that can have a positive impact in shaping a more resilient tomorrow. 

Its transaction impact services are currently provided in Sweden, UK, France, Spain, Germany, Italy, Portugal, Denmark, Finland, Norway, Belgium, Austria, Netherlands, Poland, Australia, Canada, U.S., Sri Lanka, Taiwan and Pakistan. Banks, Brands and fintechs – including Bank of the West BNP Paribas, Emeco, Findomestic, Nordea, Standard Chartered, Proximus, Paybox, Flowe, OLB, Triwa and Ålandsbanken – are also using Doconomy’s services.

Founded in 2018, the company has more than 50 employees.