Doconomy in a $2M equity extension round backed by Citi Ventures and Ingka Investments.

Doconomy, a Stockholm, Sweden-based company providing a mobile banking service correlated to people's environment behavior, announced adding a $2 million funding into the company.

The money was raised from investors including Citi Ventures, Citigroup’s venture capital team, and Ingka Investments, joined by existing investors Mastercard and Ålandsbanken. The initial round was closed at $17 million in 2021 and was led by Germany's CommerzVentures.

Doconomy, founded in 2018 by Nathalie Green, Johan Pihl, Jacob Odquist and Fredrik Lagerträd, developed a financial service via which it offers cardholders carbon footprint tracking based on purchases made through the Bank of Åland’s cloud-based Åland Index, which links each transaction to its impact on the environment and for this service

The company says it produced sales of SEK 30 million ($3.3M) in 2021, out of processing 90 million transaction impact calculations per month in 27 markets, for clients including Klarna, with close to 20 million users in their app, and Nordea with over 2 million users in their digital wallet.