From CNBC: 2024-05-30 06:28:21

Doconomy, a Swedish climate-focused financial technology startup, raised 34 million euros from leading European banks like UBS and Commerzbank. The company offers tools to measure the carbon footprint of everyday spending. The funds will drive expansion into North America and new product development, aiming to engage clients in environmental and social issues.

Doconomy acquired Dreams Technology in February 2023, using behavioral science to boost digital engagement and financial wellbeing. Despite growth challenges, attacks by right-wing commentator Jordan Peterson, who criticized climate change action. CEO Mathias Wikstrom hopes to educate skeptics to address climate-related concerns and drive positive change.

UBS, Commerzbank, and others invested in Doconomy to foster innovation in climate fintech, as governments push for ESG targets and carbon emissions reduction. CEO Wikstrom emphasizes the urgency to address climate concerns and educate the public to drive positive change and prevent further damage caused by global warming.

Read more: UBS backs $37 million round for climate fintech startup Doconomy