Psychology of the Climate Crisis – Doconomy Addresses the Discrepancy between Attitude and Behavior

Psychology of the Climate Crisis – Doconomy Addresses the Discrepancy between Attitude and Behavior

15 Aug 2024 3 minutes

The Elevator Pitch blog series introduces you to startups that SIX supports or advises. Today, you’ll get to know Doconomy. CEO and co-founder Mathias Wikström explains how he and his team tackle the pressing issue of climate change.

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What Does SIX Do for Startups?

In 2015, we founded the F10 FinTech Incubator & Accelerator, known today as the Tenity FinTech Incubator & Accelerator. We support startups through a strategic involvement in Tenity and as a corporate member. With SIX FinTech Ventures, we maintain our own funds for Corporate Venture Capital. In the Elevator Pitch blog series, startups that are either supported via SIX FinTech Ventures or that have participated in programs from Tenity introduce themselves.

Doconomy

  • Location: Stockholm, Sweden; active in more than 30 markets
  • Founded: 2018
  • Employees: 55
  • Sector: Fintech, Impact Technology

Today’s pitch comes from Mathias Wikström, CEO and co-founder of Doconomy. The startup has been recognized with numerous awards for its product Åland Index and other innovations. In 2022, Doconomy was recognized as the seventh most innovative company and was listed by Wired as one of the top 100 startups worldwide.

What Does Doconomy Do?

"How significant do you estimate the need for action on climate protection to be? Like most people, you’ll answer this question with ‘significant’ or ‘very significant’. But even though people have a high degree of environmental awareness, they don’t act accordingly. This discrepancy between attitude and behavior results in some global efforts to address the environmental crisis not bearing fruit. Using our tools, individuals and companies can better understand and simultaneously reduce their environmental impact. For example, we translate financial transactions into real environmental impacts, or offer a comprehensive self-assessment of a person’s total  footprint, including actionable insights. Moreover, we offer educational content and practical tools that inspire people to live more sustainably and enable them to reduce their ecological footprint. In order to promote positive environmental change on a global level, we work together with financial institutions. We provide banks with tools based on behavioral science findings and excellent data.

We are convinced that financial well-being fosters climate awareness. The market potential for sustainable financial solutions, which also contribute to financial well-being, is great and continuing to grow. We offer solutions that intertwine environmental awareness and financial well-being, and are confident that through the application of innovation, technology, and behavioral sciences we can bridge the gap between attitude and action.”

We offer solutions that intertwine environmental awareness and financial well-being, and are confident that through the application of innovation, technology, and behavioral sciences we can bridge the gap between attitude and action.

Mathias Wikström, CEO and co-founder of Doconomy.

How Do the Experts at Tenity FinTech Incubator & Accelerator Rate the Startup Doconomy?

Maxim Leer, VC investor at the Tenity FinTech Incubator & Accelerator, explains why he finds the topic of Pioneering Tools for an Environmentally Friendly Financial World relevant, how he assesses the market potential of Doconomy, and why he believes in the startup.

1. Why We Find This Topic Relevant

Companies have to reduce their environmental footprints in order to remain competitive and to combat climate change. Doconomy takes an innovative approach by combining financial services with climate awareness. With the help of technology and behavioral sciences, they bridge the gap between intent and action by empowering users to make sustainable financial decisions, and thus achieve positive impacts worldwide.

2. Our Assessment of the Market Potential

Doconomy has established itself as a market leader in impact technology. For banks wishing to support their customers in making climate-friendly decisions while promoting their financial well-being, the company’s solutions are of worldwide importance.

3. Why We Believe in This Startup

Doconomy has already achieved impressive successes. The company has established itself in the American market, and recently completed one of the largest funding rounds in Europe – having raised 34 million euro. This demonstrates not only a powerful vision, but the ability to transform that vision into a reality. The Doconomy team includes experts from various sectors including banking, FinTech, and sustainability, and the start-up is supported by renowned co-investors such as UBS Next, CommerzVentures, and S&P Global. Therefore, we are convinced that Doconomy will continue to be successful and make a significant contribution toward combatting climate change.

SIX FinTech Ventures

SIX supports domestic and international startups that are highly scalable, that create added value for the financial centers in Switzerland and Spain, and are independent enough to grow on their own.

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