Bulder

What Bulder does

Bulder is a Norwegian digital-only banking brand operated by Sparebanken Norge (organization number 832 554 332), headquartered in Bergen. Founded in 2019, Bulder serves Norwegian consumers through a mobile-first iOS and Android application with over 100,000 customers. The product portfolio centers on residential mortgages — a fee-free standard Boliglån and a youth-tier Boliglån Ung for borrowers under 35 — supplemented by a revolving Rammelån credit line, a fee-free credit card (with a premium metal variant), physical and virtual debit cards, savings accounts, investment funds, and a stock savings account. Family banking is served through children's and youth accounts with parental controls. Bulder has been ranked Norway's most satisfied bank customers by EPSI for three consecutive years (2023–2025) and was named Norway's most innovative company in Norsk Innovasjonsindeks 2025.

The technology stack is built on Sparebanken Norge's regulated banking infrastructure and delivered through a single mobile app that serves as the primary acquisition, servicing, and engagement channel. Onboarding, identity verification, and signing use BankID (issued by Sparebanken Norge on behalf of Bulder). Notable app-native features include automatic interest rate reductions on mortgages, monthly property value estimates, a savings goals module with custom images and automated rules, subscription detection powered by third-party Subaio ApS, invoice scanning, and forward-looking cash flow forecasting. Bulder integrates with the dominant Norwegian payment rails — Apple Pay, Google Pay, Samsung Pay, and Vipps (including Tap to Pay launched February 2025) — and with AvtaleGiro direct debit and eFaktura electronic invoicing. Cash access is provided through NorgesGruppen retail stores.

The business model is a digital challenger bank targeting Norwegian retail mortgage customers through a product-led, direct-to-consumer motion. Revenue is generated primarily through net interest spread on the mortgage and savings books, with secondary revenue from credit card interchange and transaction fees. Distribution and engagement are driven by self-service app onboarding, content marketing, organic social, earned media, and a 500 NOK referral bonus for both referrer and referee on mortgage switches. The signature commercial differentiator is the Kundeutbytte customer dividend program, which returned up to 14,000 NOK per qualifying customer in 2026 (1.47 billion NOK total, seventh consecutive year). Bulder is not a separate legal entity, has no subsidiaries, no independent funding rounds, and is not publicly traded; its financials are consolidated within Sparebanken Norge.

Name

Bulder

Legal name

Bulder (Sparebanken Norge)

Website

https://bulder.no

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Bulder is a Norwegian digital-only banking brand of Sparebanken Norge that delivers fee-free residential mortgages, savings, cards, and payment products through a mobile-first app to over 100,000 Norwegian consumers, differentiated by automatic rate reductions and an annual customer dividend program.

Ownership category

akta.pro rank

Product category

Consumer Digital Banking

NAICS

Credit Card Issuing (52221), Credit Card Issuing (522210)

akta.pro primary industry

Virtual / Digital-First Credit Cards (FSAKABAK)

Keywords

• Digital banking services
• Residential mortgage lending
• Consumer savings accounts
• Mobile banking app
• Credit card products

Headquarters

HQ city

Bergen

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Mortgage Interest Income: Primary revenue from interest spread on residential mortgages. Bulder offers fee-free mortgages with automatic rate reductions, generating income through interest margins on the loan portfolio.
2. Customer Dividend: Bulder shares profits with customers through annual customer dividends. In 2026, a total of 1.47 billion NOK was distributed, with up to 14,000 NOK per customer. This is a cost to Bulder but creates customer loyalty and acquisition.
3. Credit Card Transaction Fees: Revenue from credit card transactions including payment processing and interchange fees. Credit card features include travel insurance and fee-free usage.
4. Savings Account Deposits: Interest spread on customer deposits, with Bulder offering competitive savings rates. Deposits are used to fund mortgage lending.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Bulder is a Norwegian digital-only consumer banking brand operated by Sparebanken Norge that offers fee-free residential mortgages, revolving credit lines, credit and debit cards, savings accounts, and investment funds through a mobile-first app. It differentiates with automatic interest rate reductions on mortgages, a customer dividend program that shares profits back to customers, and innovative in-app money management features.

Product overview

Bulder is a digital mobile bank from Sparebanken Norge, offering a unified banking app as the primary channel for all products and services. The core product portfolio centers on mortgage products (Boliglån and Boliglån Ung for customers under 35), supplemented by a full suite of banking services including credit lines (Rammelån), credit cards (including premium Metallkort), and debit cards (both physical and virtual). Savings products include Sparekonto with micro-savings capabilities, investment funds (Fond), and stock savings accounts (Aksjesparekonto). Family banking is served through Barne- og ungdomskonto products. The app integrates mobile payment solutions including Apple Pay, Google Pay, Samsung Pay, and Vipps, along with utility features like receipt management (Kvitteringer), subscription tracking (Abonnementsoversikt), invoice scanning (Fakturascanner), and international payments. Bulder distinguishes itself through its fee-free model and annual customer dividend (Kundeutbytte) program.

Differentiator

Problem solved

Functional benefit

Brands

• Boliglån: Fee-free mortgage product with automatic rate reductions
• Boliglån Ung
• Rammelån
• Sparekonto
• Bulder Metall

Products and services

• Boliglån (Standard Mortgage) Fee-free residential mortgage with automatic interest rate reductions for Norwegian homeowners and home buyers; interest rate depends on loan-to-value ratio.
• Boliglån Ung (Youth Mortgage) Specialized mortgage product offering lower interest rates than the standard Boliglån for borrowers under 35 years old (with co-borrower also under 35).
• Rammelån (Revolving Credit Line) Flexible revolving credit facility secured by the customer's property, allowing borrowing up to a set limit with interest accruing only on the drawn amount.
• Kredittkort (Credit Card) Fee-free credit card with payment deferral option and included travel insurance, available to Norwegian consumers.
• Metallkort (Premium Metal Credit Card) Premium metal credit card in first-class quality, available for order by Norwegian customers seeking a premium card experience.
• Bankkort / Debetkort (Debit Card) Physical and virtual debit card for everyday payments; physical card features Bulder's signature design and the virtual card exists only in the app.
• Sparekonto (Savings Account) Savings account offering competitive interest rates with customizable images, GIFs, automatic savings rules, and goal-tracking features for Norwegian consumers.
• Fond (Investment Funds) Long-term investment funds available for purchase and transfer within the Bulder app, targeting retail customers seeking capital growth.
• Aksjesparekonto (Stock Savings Account) Stock savings account (askjesparekonto) for holding and managing equity investments with Norwegian tax advantages.
• Barne- og ungdomskonto (Children and Youth Account) Bank accounts and cards designed for children and youth, allowing parents to manage and monitor children's finances within the Bulder app.

Quantifiable outcome

• Fee savings of approximately 9,000 NOK annually for customers who switch mortgages to Bulder
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature6 records

Partnerships

One partnership is on record.

• Sparebanken NorgecoreStrategic or Co-development PartnerBulder is a digital banking brand fully owned and operated by Sparebanken Norge. All customer agreements are between the customer and Sparebanken Norge. Bulder uses Sparebanken Norge's banking infrastructure, licenses, and regulatory framework. The parent company is located at Jonsvollsgaten 2, Bergen with organization number 832 554 332.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Revolut: UK-headquartered global digital bank with active Norwegian operations offering consumer accounts, cards, and payments — a cross-border emerging player encroaching on Bulder's Norwegian retail-banking territory.

Broad incumbents

• SpareBank 1 SR-Bank: Major Norwegian regional savings bank alliance with broad retail, mortgage, and payment products — represents the traditional branch-based competitive set Bulder challenges with its digital model.
• DNB: Norway's largest bank with full retail, mortgage, and card offerings — the dominant incumbent Bulder is taking share from in Norwegian mortgages and consumer banking.

Direct peers

• Nordax Bank: Nordic digital bank specializing in consumer credit and deposit products — a comparable specialty consumer-lending and digital-banking model in the Nordics.
• Bank Norwegian: Norwegian digital consumer bank offering credit cards, personal loans, and savings — directly overlapping with Bulder's consumer credit card and savings proposition in the same Norwegian retail market.
• Komplett Bank: Norwegian digital-only bank focused on consumer lending and savings, with a similar mobile-first, fee-light value proposition to Bulder in the Norwegian retail market.
• Instabank: Norwegian digital consumer bank offering loans, savings, and cards — competing with Bulder for the same digitally native Norwegian retail customers.
• Sbanken: Norwegian digital bank (acquired by DNB) that built its brand as a direct, branchless alternative to traditional banks — closely comparable to Bulder's mobile-first Norwegian retail model.
• YA Bank: Norwegian digital bank offering consumer loans, credit cards, and savings — a directly comparable Norwegian digital retail-banking proposition to Bulder.
• Lunar: Nordic (Danish-rooted) challenger bank offering mobile-first consumer accounts, cards, and lending — a direct peer on the digital consumer banking playbook that Bulder executes in Norway.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/Bulder_app
• Facebookfacebook.com/BulderApp
• LinkedInlinkedin.com/company/bulder-app
• Instagraminstagram.com/bulder_app

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Bulder