Climate tech firm Doconomy buys Swedish FinTech Dreams Technology

By Gloria Methri

Doconomy, the climate technology start-up helping banks, brands, and consumers to better understand and reduce their environmental impact, has acquired Stockholm-based financial well-being FinTech Dreams Technology.

Under the acquisition, Doconomy will incorporate Dreams Technology’s proprietary platform into its suite of leading environmental impact measurement tools. Doconomy can now offer its existing banks and financial institution partners an extended behavioural science-driven product portfolio which includes modules for climate-smart savings, debt management, and investments.

The joint product will combine Doconomy’s expertise in quantifying environmental footprints and Dreams Technology’s record of boosting digital engagement and driving behavioural change. The product will thus deliver a digital experience that promotes financial well-being, encourages sustainable consumption choices, and effectuates climate action at scale.

The acquisition will in turn help establish financial institutions globally as change agents in tackling the climate and cost-of-living crises. It will also enable banks to address regulatory sustainability reporting, and strengthen client and consumer engagement and retention.

Mathias Wikström, CEO & co-founder of Doconomy, said “The acquisition will allow us to embed the unique methodology Dreams Technology has built over the years together with their suite of proven products. This will expand our offering, merging our team of experts in climate impact with the behavioural economics talent of Dreams Technology, to achieve urgent and measurable results.”

Henrik Rosvall, CEO & co-founder of Dreams Technology, who joins Doconomy’s leadership team, added, “By joining forces with Doconomy, we see a substantial opportunity to promote financial well-being and climate action at scale with the first holistic offering in the market. It’s a match made in heaven using innovation and behavioural expertise to empower banks in their journey from transaction engines to global change agents.”