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Current Portfolio

Bluestep Bank

A leading Nordic specialist mortgage bank.

Bluestep Bank has responsibly increased financial inclusion in society and enabled financial empowerment of tens of thousands of customers in the Nordic region since 2005.

Key Facts
Sector

Services

Country

Sweden

Fund

EQT VII

Entry

2017

Responsible Advisor

Vesa Koskinen

Website

Bluestep

A family enjoying a walk outdoors. A man carries a young girl on his shoulders, while a woman holds hands with a boy.

About Bluestep

Bluestep is a specialized mortgage bank, a challenger in the Nordic mortgage segment and a modern alternative to traditional high-street banks. The core of Bluestep’s business is to take the time to understand each individual situation, focusing on future potential rather than standardized processes identifying obstacles in the shape of credit history, employment forms and income. Through responsible yet inclusive mortgages customers should have the opportunity to improve their financial circumstances, both long term and short term.

Bluestep has a multifaceted product line, all with the common denominator of mortgages, including specialist mortgages in Sweden, Norway and Finland, equity release loans through 60plusbanken in Sweden, and second charge loans in Norway. The bank also offers retail deposits. Headquartered in Stockholm with offices in Oslo and Helsinki, Bluestep has approximately 250 employees and is under supervision of the Swedish Financial Supervisory Authority.

Market trends and drivers

The specialist mortgage segment is expecting double-digit growth driven by strong secular trends and increasing requirements on traditional banking combined with significant untapped potential remaining for specialist mortgages. An aging population, modern forms of employment and immigration, together with stricter underwriting criteria and standardized processes, drive a growing share of underserved and financially disadvantaged people. Bluestep is thereby well-positioned to benefit from these secular trends.

Moreover, Bluestep is operating in the attractive underlying Nordic credit market which is characterized by sound macroeconomic conditions, a high degree of digitization, a data-rich environment and a well-functioning legal and collection framework.

Investment Potential

Bluestep is a leader in the Nordic specialist mortgage segment and has unique capabilities to serve this growing and important customer group in a responsible way. Together with a strong management team, EQT supports Bluestep to accelerate growth by investing in the platform, diversifying the funding, facilitating new product innovations, and expanding to new markets, thereby enabling for Bluestep to provide financial inclusion to more people.

Board of directors

Chairperson

Jayne Almond

Board member

Christopher Rees

Board member

Rolf Stub

Board member

Christian Shin Hoegh Andersen

Board member

Julia Ehrhardt von Mecklenburg

Board member

Vesa Koskinen

Management

CEO

Björn Lander

CFO

Pontus Sardal

Do You Want to Know More?

We are eager to explore how we can achieve great things together.