Brage Finans

What Brage Finans does

Brage Finans AS is a Norwegian specialty financing company founded in 2010 and headquartered in Bergen. It provides secured consumer loans for cars (Billån, Grønt billån, Kaskofritt billån), boats (Båtlån), motorhomes (Bobillån) and caravans (Campingvognlån), alongside business leasing and næringslån to Norwegian SMBs across categories such as construction machinery, transport, agriculture, industrial production, ICT/office and healthcare equipment. Its technology stack is centered on a customer-facing digital platform (Min Side at minside.brage.no) integrated with national BankID for digital loan signing, online loan/leasing calculators on brage.no, automated credit decisioning against credit-bureau and tax data, and a proprietary Green Bond Framework supporting ESG-linked bond issuance.

The business model is straightforward specialty-finance economics: net interest income from secured consumer and SMB loans, recurring monthly lease income on operating assets owned by Brage Finans and rented to businesses over 3–7 year terms, commission income from distributing Frende Forsikring insurance products, and bond-market funding through senior unsecured, AT1 fund capital and T2 subordinated issuances listed on Oslo Børs. The company is privately held and owned by a consortium of Norwegian savings banks (Sparebanken Norge, Sparebanken Vest, Haugesund Sparebank, Rogaland Sparebank, Selbu Sparebank, Sparebanken DIN Telemark), with the savings-bank CEOs sitting on the board and referring customers. Distribution combines direct-to-consumer digital flows, a field sales force across 10+ regional offices nationwide, and a dealer partnership channel (car, boat, caravan and equipment dealers, including Auto 8-8) accessed via the Axess portal. The firm is described as Norway's third-largest financing company, carries an A+ Stable Outlook rating from Scope Ratings, and has NOK 12B+ in outstanding bonds across 19+ active instruments.

Name

Brage Finans

Legal name

Brage Finans AS

Website

https://brage.no

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

101–250 employees

Short description

Brage Finans is a Norwegian specialty financing company offering secured consumer loans for cars, boats, and RVs plus business leasing and loans to SMBs, serving Norwegian consumers and businesses through a nationwide network of 10+ regional offices, direct digital channels, and dealer partnerships.

Ownership category

akta.pro rank

Product category

Specialty Finance

NAICS

Sales Financing (52222)

SIC

Personal Credit Institutions (6141), Finance Lessors (6172), Finance Services (6199)

akta.pro primary industry

Microloans & Working Capital Loans (FSAKAGAA)

akta.pro secondary industries

Marine & Boat Finance (FSAKADAH), Agricultural & Rural Microfinance (FSAKAGAG)

Keywords

• Consumer auto loans
• Boat and rv financing
• Commercial equipment leasing
• Specialty finance
• Asset-based lending

Headquarters

HQ city

Bergen

HQ country

Netherlands

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Consumer Loan Interest Income: Brage Finans generates interest income from secured consumer loans (billån, grønt billån, bobillån, båtlån, campingvognlån, kaskofritt billån) issued to private individuals, with collateral in the financed vehicle/boat/caravan. Best interest rates tied to higher equity contributions (e.g., 35% equity for best boat loan rates; 20% minimum).
2. Business Leasing Income: Brage Finans purchases equipment/vehicles on behalf of business customers and leases them back at a fixed monthly rent over an agreed period (typically 3-7 years). Customers retain full usage rights; up to 100% financing available; leasing offers tax deductions and no VAT prepayment.
3. Business Loans: Brage Finans provides secured and unsecured business loans (næringslån) to corporate customers for working capital and asset financing, alongside factoring services for business clients.
4. Insurance Distribution Commissions: Brage Finans distributes insurance products (car insurance, boat insurance, home, travel, life, etc.) from partner Frende Forsikring and payment insurance (betalingsforsikring) underwritten by AmTrust International Underwriters DAC, earning commission/placement fees. Customers can receive up to 17% multi-policy discount and 5% loyalty bonus through Frende.
5. Bond Funding Operations: Brage Finans issues multiple senior unsecured, subordinated (T2), and Additional Tier 1 (AT1) bond loans listed on Oslo Børs to fund its lending and leasing operations, with total bond portfolio exceeding NOK 12 billion across active issuances.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Brage Finans is a Norwegian specialty financing company that provides secured consumer loans for vehicles (cars, boats, motorhomes, caravans, green zero-emission cars) and a comprehensive business leasing and loan portfolio covering construction machinery, transport, agriculture, IT/office, industrial production, and healthcare equipment. The company serves both private Norwegian consumers and Norwegian SMBs through a hybrid digital-and-advisory distribution model combining an online calculator platform with a nationwide regional office network.

Product overview

Brage Finans is a Norwegian specialty financing company (established 2010, headquartered in Bergen) offering a portfolio of two distinct product lines under a single brand: (1) Private loans (Privat) covering Billån, Grønt billån, Kaskofritt billån, Bobillån, Båtlån, and Campingvognlån, plus insurance products (Bilforsikring, Betalingsforsikring, Leiebil-dekning) distributed in partnership with Frende Forsikring; and (2) Business financing (Bedrift) covering Leasing as the flagship product (with sub-products Billeasing, IKT og Office, Industri/produksjon, Helse og Velvære, Utstyr, Anleggsmaskiner, Transport, and Landbruk) plus Næringslån. Both segments are served through the Min Side customer portal (minside.brage.no) for private and business customers, and the Axess dealer portal (axess.brage.no) for car dealers/forhandlere, with BankID-based authentication. The portfolio is delivered through a nationwide network of regional offices (Vestfold og Telemark, Nord-Norge/Tromsø, Møre og Romsdal, Østlandet/Oslo, plus Bergen HQ) and funded in part through a Scope-rated (A+, stable outlook) green bond programme launched under the company's green framework (BRFI54 ESG, BRFI58 ESG).

Differentiator

Problem solved

Functional benefit

Products and services

• Billån (Car Loan) Standard secured car loan for Norwegian private customers financing new and used passenger vehicles, with the car itself serving as collateral (sikkerhet i bilen). Customers apply online via brage.no calculator and sign loan documents with BankID.
• Grønt billån (Green Car Loan) Green car loan offering Brage Finans's best interest rate to Norwegian private customers purchasing zero-emission vehicles (electric or hydrogen-powered cars). Available to private customers.
• Bobillån (Motorhome Loan) Motorhome loan for Norwegian private customers financing new or used motorhomes (bobiler), with the vehicle as collateral. Offers up to 15-year repayment term on new motorhomes with 25% equity down payment.
• Båtlån (Boat Loan) Boat loan for Norwegian private customers financing new and used boats, with the boat as security. Requires minimum 20% equity; best interest rate at 35% equity contribution. Boats over 7m require ship registry registration and must be 2005 model year or newer.
• Campingvognlån (Caravan Loan) Caravan loan for Norwegian private customers financing new and used camping trailers/caravans, with the asset as collateral. Offers up to 15-year repayment term on new caravans with 25% equity down payment.
• Kaskofritt billån (Casco-Free Car Loan) Casco-free car loan aimed at Norwegian private customers buying older, cheaper used cars where full casco comprehensive insurance is not required. Quote-based pricing.
• Leasing (Business Leasing) General business leasing product for Norwegian SMBs where Brage Finans purchases and owns the equipment and rents it to the business for a fixed monthly fee over an agreed period (typically 3-7 years), with full right of use. Up to 100% financing available, no VAT prepayment, and simplified accounting. Covers equipment categories including construction machinery, transport vehicles, agricultural equipment, IT/office, industrial production, and healthcare equipment.
• Billeasing (Business Car Leasing) Business car leasing enabling Norwegian companies to finance new or used company cars against a fixed monthly price. Supports transition to electric fleets and reducing environmental footprint. Up to 100% financing, no VAT advance payment, and full-service car leasing with predictable budgeting.
• Næringslån (Business Loan) Business loan product for Norwegian SMB customers as an alternative to leasing, covering working capital and asset financing needs. Provided alongside leasing across Brage Finans's business financing portfolio, including secured and unsecured options plus factoring services.
• Betalingsforsikring (Payment Protection Insurance) Loan payment protection insurance covering loan interest and instalments in case of involuntary unemployment, sick leave, or disability; outstanding balance is settled in case of death. Underwritten by AmTrust International Underwriters DAC; claims handled by Crawford & Company. Available to Norwegian/Nordic residents aged 18-67 in 50%+ employment or self-employed, not on benefits, and not under notice of redundancy.

Named customers12 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability5 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered strategic - flagship insurance partner, major collaborating dealer, strategic ev partnership, critical infrastructure partner, industry board representation and industry association membership.

• Frende Forsikringstrategic - flagship insurance partnerStrategic or Co-development PartnerFrende Forsikring is Brage Finans' strategic insurance partner. Brage Finans distributes Frende's full product range (bilforsikring, båtforsikring, husforsikring, innboforsikring, reiseforsikring, barneforsikring, personforsikring, hytteforsikring) via the Frende Nettbutikk on brage.no. Anne Elisabeth Aarestrup (Frende Forsikring's product development chief) sits on Brage Finans' board. Customers get up to 17% multi-policy discount and 5% loyalty bonus. Frende offers Norway's fastest car bonus accrual and a dedicated claims handler per case.
• Auto 8-8major collaborating dealerChannel Partner/ Reseller/ DistributorAuto 8-8 is a collaborating car dealer of Brage Finans - described as nordvest-landets (northwest Norway's) largest automotive group with 9 stores carrying Ford, Nissan, Hyundai, and Mazda. Konsernleder Terje Sildnes is quoted as an expert voice on Brage Finans' article about electric vans.
• Paxsterstrategic ev partnershipStrategic or Co-development PartnerBrage Finans has entered a strategic partnership with Paxster, a Norwegian manufacturer of electric utility vehicles, to offer flexible and sustainable financing solutions for both business customers and private individuals investing in Paxster electric vehicles.
• BankID (via bankene/financial institutions)critical infrastructure partnerTechnology or IntegrationBankID is integrated into Brage Finans' Min Side portal for digital signing of loan documents, identity verification, and secure customer authentication across all consumer and business financing products.
• Aker Solutionsindustry board representationOthersAker Solutions is not a direct partnership but its Vice President Commercial Transformation, Lise Falch-Monsen, sits on Brage Finans' board (since December 2024) - bringing industry transformation perspective to governance.
• Holberg Fondeneindustry board representationOthersHolberg Fondene is not a direct partnership but its board member Lise Falch-Monsen (also on Brage Finans' board) creates an indirect governance connection.
• Finans Norgeindustry association membershipOthersFinans Norge is the Norwegian financial industry association. Jan Erik Kjerpeseth (Brage Finans' Chairman) is a board member of Finans Norge, indicating Brage Finans' industry association involvement.

Scale indicators8 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• DNB Finans: DNB Finans is the financing arm of Norway's largest bank, offering consumer vehicle loans, SMB leasing, factoring, and equipment finance — a broad incumbent competitor with deposit-funded balance sheet pricing Brage must match.
• Nordea Finance (Norway): Nordea Finance provides equipment leasing, asset finance, and corporate lending across the Nordics — a broad incumbent operating in the same Norwegian SMB leasing and vehicle financing markets as Brage Finans.
• LeasePlan Norway: LeasePlan Norway is a large multinational vehicle leasing and fleet management operator with Norwegian operations — a broad incumbent competing with Brage's business car leasing and fleet finance products.

Regional players

• Resurs Bank (Norway): Resurs Bank is a Swedish consumer and SMB finance company with Norwegian operations — a Nordic regional peer offering similar consumer lending and retail/SMB finance products to Brage in the Norwegian market.
• Svea Bank: Svea Bank is a Swedish fintech/finance group offering consumer loans, SMB financing, and leasing across the Nordics — a Nordic regional peer operating in adjacent Norwegian segments to Brage Finans.

Direct peers

• Komplett Bank: Komplett Bank is a Norwegian digital consumer bank offering consumer loans, refinancing, and credit cards — comparable to Brage's private-market lending arm with overlapping Norwegian consumer credit customers.
• Instabank: Instabank is a Norwegian consumer bank offering consumer loans and deposit products — comparable to Brage's Norwegian private-market lending operations as a domestic non-bank consumer credit specialist.
• Sparebank 1 Finans: Sparebank 1 Finans is the financing arm of the Sparebank 1 alliance of Norwegian savings banks, offering consumer vehicle/boat loans and SMB leasing — directly comparable to Brage Finans in product mix and Norwegian savings-bank ownership structure.
• Eika Finans: Eika Finans is the financing company owned by the Eika alliance of Norwegian savings banks, providing consumer loans and SMB equipment leasing — a directly comparable savings-bank-backed Norwegian specialty financier.
• Santander Consumer Bank (Norge): Santander Consumer Bank Norge is a Norwegian consumer-finance subsidiary of Santander Group focused on vehicle, boat, and consumer lending — closely comparable to Brage's private-market vehicle and consumer loan portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/brage-finans-as

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Brage Finans