Climate tech firm Doconomy acquires financial wellbeing fintech Dreams
Swedish climate tech start-up Doconomy has acquired financial wellbeing fintech Dreams Technology as it looks to offer its financial institution partners behavioural science-driven modules for climate smart savings, debt management, and investments.
Doconomy acquires Dreams Technology
Doconomy will fold Dreams Technology’s proprietary platform – which leverages behavioural science to deliver ways to boost banking customers’ digital engagement and financial wellbeing – into its suite of environmental impact measurement tools.
The acquisition, for an undisclosed sum, “marks the first deal of its kind to bridge the unique intersection of behavioural economics and climate impact”, Doconomy claims.
Combining Doconomy’s expertise in quantifying environmental footprints and Dreams’ digital engagement capabilities which drive behaviour change, the “holistic offering” will promote financial wellbeing, encourage sustainable consumption choices and effect climate action “at scale”, Doconomy says.
Additionally, the new offering will assist financial institutions as they look to tackle both climate change and cost of living issues, enable banks to address regulatory sustainability reporting, and enhance consumer engagement and retention.
Doconomy CEO and co-founder Mathias Wikström says both Doconomy and Dreams “are built to motivate and shape behaviours” in a way that is key to sustainable and lasting change.
“Our joint forces will accelerate climate literacy while giving a major boost to the financial industry’s transition to net zero – making every transaction count for both people and the planet.”
Henrik Rosvall, CEO and co-founder of Dreams Technology, who joins Doconomy’s leadership team, adds: “Our solutions operationalise over 100 behavioural science insights and are designed to drive sustainable behavioural change in banking customers by closing the intention-action gap, creating positive and impactful financial behaviours, and making money more emotional, accessible, and effective for everyone.”
