The real estate brokerage industry in the Nordics is robust and evolving, characterized by a blend of traditional and innovative companies. It includes real estate agencies, property technology firms, and investment groups that all aim to connect buyers and sellers seamlessly. Many firms are focusing on user-friendly digital platforms and enhanced customer service as they adjust to changing consumer expectations. Growth in the sector is expected, driven by urban development, increased interest in sustainable real estate, and the rise of online property solutions. Notably, the Nordics are seeing a shift towards integrating advanced technologies for property transactions.


Investors in the Nordic real estate brokerage sector include corporate giants, private equity firms, and venture capitalists. With headquarters in major cities like Stockholm, Oslo, and Helsinki, these investors vary in size and focus. Established between 1839 and 2021, these entities have engaged in numerous deals throughout 2024, with each making a unique mark on the industry. Noteworthy is their collective participation in 95 investment rounds, showcasing a heightened interest in brokerage, technology, and property management. With assets ranging from small startups to large corporations, they drive innovation and growth in this vibrant market.


Top 18 Real Estate Brokerage Investors in the Nordics


1. Schibsted

  • Website: schibsted.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1839
  • Headcount: 5001-10000
  • Number of deals in 2024: 3
  • LinkedIn: schibsted-asa

Schibsted Media Group, founded in 1839 and based in Oslo, Norway, is a corporate investor primarily known for its operations in the digital marketplace sector. The company has transitioned from traditional publishing to focus on empowering users through various digital services, including online platforms for classified ads and second-hand goods. Notably, Schibsted has made significant strides in the real estate brokerage industry through strategic acquisitions. In 2017, Schibsted Spain acquired Habitaclia.com, a leading real estate portal in Spain, which enhanced its leadership in the Spanish real estate sector and is expected to increase its total business significantly. Additionally, Schibsted ASA's acquisition of Oikotie in Finland for EUR 185 million further solidifies its presence in the online marketplace, which includes real estate listings. These transactions highlight Schibsted's active role in the real estate brokerage market, making it a relevant investor in this category.


2. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by managing diverse investment portfolios across multiple sectors and geographies. Among their notable transactions in the real estate brokerage context, EQT acquired Casa.it in September 2020, enhancing their portfolio in the real estate market. In August 2024, they acquired PropertyGuru Group for approximately USD 1.1 billion, a significant player in the property technology space, which further emphasizes their commitment to the real estate sector. Additionally, their acquisition of Apleona in January 2016 showcases their interest in real estate services, making EQT Group a multifaceted investor with a strong presence in the real estate brokerage industry.


3. VNV Global AB

  • Website: vnv.global
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1996
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: vostok-new-ventures-ltd

VNV Global AB is a venture capital investment firm based in Stockholm, Sweden, founded in 1996. The firm specializes in providing capital and expertise to innovative companies across various sectors, including Mobility and Digital Health. VNV Global aims to support mission-driven entrepreneurs in developing scalable and sustainable business models, emphasizing long-term profitability and strong market positions. Notably, VNV Global has made significant investments in the real estate brokerage sector, including Zameen.com, a leading property portal in Pakistan, which raised $9 million in a Series B funding round in 2015. They also invested in Shwe Property, Myanmar's leading property portal, which raised $3 million in a Series B funding round in 2019, as well as an earlier round in 2018. Additionally, VNV Global participated in funding for Property Finder, further demonstrating their engagement in the real estate brokerage market. These transactions highlight VNV Global's commitment to supporting innovative platforms that enhance the real estate industry.


4. Nordic Investment Bank

  • Website: nib.int
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1976
  • Headcount: 201-500
  • Number of deals in 2024: 19
  • LinkedIn: nordic-investment-bank

Nordic Investment Bank (NIB) is a public entity based in Helsinki, Finland, established in 1976. It specializes in providing sustainable financing solutions aimed at enhancing productivity and environmental benefits in the Nordic and Baltic regions. NIB offers a variety of loan products, including corporate, sovereign, and sustainability-linked loans, catering to both private and public sector clients. In recent years, NIB has been involved in several notable transactions within the real estate sector, such as providing debt financing to Bonnier Fastigheter, which raised approximately $19.4 million in September 2024, and Atrium Ljungberg, which secured around $88.6 million in post-IPO debt in March 2020. Other relevant transactions include financing for Catena and Heimar, further demonstrating NIB's active role in supporting real estate projects through its financial services.


5. Intrum

  • Website: intrum.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1923
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: intrum

Intrum is a corporate investor based in Stockholm, Sweden, founded in 1923. It specializes in credit management services, offering solutions for debt collection, credit optimization, and financial education to both businesses and consumers across Europe. In recent years, Intrum has made significant strides in the real estate sector through strategic acquisitions. Notably, in May 2023, Intrum acquired Haya Real Estate, a Spanish asset management platform, for 140 million euros, marking a key move to enhance its business in Spain. Additionally, in December 2018, Intrum acquired Solvia, further expanding its footprint in the real estate market. These transactions highlight Intrum's commitment to diversifying its portfolio and engaging in the real estate brokerage industry, making it a relevant player in this space.


6. Altor Equity Partners

  • Website: altor.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm focuses on enhancing operational efficiency and sustainable growth for its partners through tailored investment strategies and digital transformation solutions. Notably, Altor has made significant investments in the real estate sector, including the acquisition of Realia Group Oy in June 2016, which is the largest service provider in real estate management and brokerage services in the Nordic countries. This strategic acquisition highlights Altor's commitment to the real estate brokerage industry. Additionally, Altor has engaged in various other sectors, including technology and consumer products, showcasing their diverse investment portfolio.


7. PropTech Farm

  • Website: proptechfarm.com
  • Type: Venture Capital
  • Headquarters: Gothenburg, Västra Götaland, Sweden
  • Founded year: 2021
  • Headcount: 1-10
  • LinkedIn: proptechfarm

PropTech Farm is a venture capital firm based in Gothenburg, Sweden, founded in 2021. The firm specializes in investments in real estate technology, focusing on supporting startups in the PropTech sector. With a mission to drive innovation and sustainability in the real estate industry, PropTech Farm operates primarily in the Nordics and Southeast Asia. Notable transactions include a $2 million investment in Lazudi, a Thai proptech firm aimed at simplifying the home buying and selling process, and a pre-seed investment in Propstreet, which also focuses on real estate transactions. Additionally, they led a funding round for Allihoop, a Stockholm-based startup, which is involved in product development and expansion within the real estate space. These investments highlight PropTech Farm's commitment to enhancing the real estate brokerage landscape through technology.


8. Butterfly Ventures

  • Website: butterfly.vc
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2012
  • Headcount: 1-10
  • Number of deals in 2024: 5
  • LinkedIn: butterfly-ventures

Butterfly Ventures is a venture capital firm based in Helsinki, Finland, founded in 2012. The firm specializes in seed stage investments, particularly in deep tech startups, and emphasizes social and environmental impact in its investment strategy. Butterfly Ventures has been involved in several notable transactions, including investments in Alpakka Media and CubiCasa, both of which are in the early stages of their development. Notably, they participated in funding rounds for GBuilder, a Finnish ConTech company that raised €2M for international expansion, indicating their interest in the intersection of technology and real estate. This involvement highlights their potential relevance to the real estate brokerage industry, as they support innovations that could enhance the efficiency and effectiveness of real estate transactions.


9. Heartcore Capital

  • Website: heartcore.com
  • Type: Venture Capital
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2007
  • Headcount: 11-50
  • Number of deals in 2024: 17
  • LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies and has a strong emphasis on building long-term relationships with entrepreneurs. In recent years, Heartcore has made significant investments in the real estate sector, particularly in PropTech companies. Notably, they participated in funding rounds for Zefir, a startup that simplifies home-selling by directly acquiring properties, raising over $34 million across Series A and B rounds. Additionally, Heartcore invested in Exporo, a German real estate investment platform, contributing to their growth and international expansion efforts. These transactions highlight Heartcore's active role in the real estate brokerage industry, supporting innovative solutions that enhance property transactions.


10. Visma

  • Website: visma.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1996
  • Headcount: 10001+
  • Number of deals in 2024: 16
  • LinkedIn: visma

Visma is a corporate investor based in Oslo, Norway, founded in 1996. It specializes in providing cloud-based accounting, payroll, invoicing, and HR solutions, primarily serving small and medium businesses as well as public sector organizations. Visma operates through a network of entrepreneurial companies across Europe and Latin America, contributing to its innovative software offerings. Notably, Visma has made strategic acquisitions to enhance its software capabilities, including the acquisition of Agenteq Solutions Oy in June 2018, which develops Tampuuri property management software. This acquisition aims to strengthen Visma's offerings in real estate management software, highlighting its commitment to the real estate sector. Additionally, Visma has acquired other companies like Codegarden and Priorite, further expanding its software solutions portfolio, although these are not directly related to real estate brokerage.


11. Marketer


Marketer is a corporate investor based in Oslo, Norway, founded in 2016. As a digital marketing agency, they specialize in providing innovative marketing solutions tailored for the real estate sector. Their services include marketing automation, digital solutions for developers, and advanced visualization technologies, aimed at enhancing the marketing strategies and sales processes of real estate professionals. Marketer has made significant strides in the proptech space through strategic acquisitions, such as the acquisition of Moving Digital, a Dutch company that specializes in digital marketing solutions for the real estate market, announced on October 11, 2023. This acquisition aims to bolster Marketer's international presence and expand its portfolio in the Dutch market. Additionally, they acquired HomeFair for NOK 20 million on January 29, 2021, which enhances their capabilities in generating automated reports for real estate valuations and market analysis. These transactions highlight Marketer's commitment to innovation and customer engagement within the real estate brokerage industry.


12. Polaris Private Equity


Polaris Private Equity is a private equity firm based in Copenhagen, Denmark, founded in 1998. The firm specializes in investment management, focusing on supporting mid-sized companies in the Nordic region through tailored investment strategies, including private equity, flexible capital, and public equity. Polaris partners with management teams to drive growth and operational improvements, helping these companies realize their full potential. Notably, Polaris has been involved in several significant transactions, including the acquisition of Esoft Systems A/S in 2022, which specializes in digital marketing for the real estate industry. This acquisition highlights Polaris's engagement with the real estate sector. Additionally, they have made other acquisitions such as Dansommer and Fiskarhedenvillan Group, further showcasing their diverse investment portfolio.


13. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Finland, founded in 2009. The firm specializes in early-stage investments, providing financial backing and advisory services to entrepreneurs across various sectors. Lifeline Ventures focuses on supporting resilient founders from the inception of their ventures. Notably, they have invested in Blok, a Helsinki-based company that has developed an AI-based real estate virtual retailer service, securing $2M in funding to accelerate its business. This investment highlights Lifeline's engagement in the real estate sector. Additionally, they have participated in funding rounds for other startups like Metroc and Inven, which, while not directly related to real estate brokerage, showcase their active role in supporting innovative technology solutions. Their diverse portfolio indicates a broad investment strategy, but their involvement with Blok positions them as a relevant investor in the real estate brokerage industry.


14. Handelsbanken i Sverige


Svenska Handelsbanken AB, founded in 1871 and based in Stockholm, Sweden, is a prominent corporate investor and bank that provides a comprehensive suite of financial services, including loans, savings accounts, investment funds, and financial advice. The bank serves both individual consumers and businesses, emphasizing personalized service and strong customer relationships. In recent years, Handelsbanken has been involved in several notable transactions within the real estate sector, such as the $53,098,890 raised for Swedish Logistic Property in a post-IPO equity transaction in November 2023, and the $47,652,501 raised for Stendorren Fastigheter in October 2024. Additionally, Handelsbanken has participated in significant debt raises for NCC, totaling over $748 million across two transactions in 2012 and 2022. These activities highlight Handelsbanken's active engagement in the real estate market, making it a relevant player in the real estate brokerage investment landscape.


15. Länsförsäkringar Göteborg och Bohuslän


Länsförsäkringar Göteborg och Bohuslän is a corporate investor based in Gothenburg, Västra Götaland, Sweden, founded in 1845. As part of the Länsförsäkringar group, they offer a range of financial products including car and home insurance, as well as savings plans for children. In 2024, they have made notable investments in the real estate sector, participating in post-IPO equity transactions for Swedish Logistic Property, which raised over $107 million, and Stendorren Fastigheter, which raised approximately $47.7 million. These transactions highlight their active role in the real estate market, demonstrating their commitment to diversifying their investment portfolio beyond traditional insurance and banking services.


16. Industrifonden

  • Website: industrifonden.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1979
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: industrifonden

Industrifonden is a venture capital fund based in Stockholm, Sweden, founded in 1979. The firm specializes in investing in early-stage companies, particularly in the fields of Deep Tech, Life Science, and Transformative Tech. They provide financial support and strategic guidance to startups, helping them scale their innovative solutions. In the context of real estate brokerage, Industrifonden has been involved in notable transactions such as the Series A funding for Adfenix, a Swedish real estate technology specialist that raised $6 million to enhance its cloud-based customer services for real estate agencies. Additionally, they participated in a funding round for Realforce, which aims to simplify marketing for the real estate industry, securing 50 million SEK from various investors. These transactions highlight Industrifonden's engagement in the real estate technology sector, aligning with their goal of creating long-term value through partnerships with passionate founders.


17. M2 Asset Management AB


M2 Asset Management AB, founded in 1998 and based in Stockholm, Sweden, is a corporate investor specializing in real estate management. The company focuses on property management, acquisition, and development, aiming to create long-term growth and enhance value through strategic investments in real estate. Their clientele includes businesses and organizations seeking professional management of their real estate assets. In recent transactions, M2 Asset Management was involved in the funding of OOF Group, which raised over $21 million in a secondary market transaction in January 2022, and Logistea, which raised approximately $741,698 in post-IPO equity in October 2024. These activities reflect their engagement in the real estate sector, further supporting their role as a relevant investor in real estate brokerage.


18. Spiltan Invest

  • Website: spiltan.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1986
  • Headcount: 11-50
  • LinkedIn: spiltan

Spiltan Invest is an investment firm based in Stockholm, Sweden, founded in 1986. The firm specializes in long-term investments in growth companies across various sectors, including technology, finance, real estate, and industry. They provide capital and strategic support to entrepreneurs and businesses, focusing on sustainable value creation over time. Notably, Spiltan Invest has been involved in significant transactions within the real estate sector, such as their investment in Realforce, a company that simplifies marketing for the real estate industry, and Aktivbo, a SAAS developer for real estate management. These investments highlight Spiltan Invest's commitment to supporting innovative solutions in the real estate market, reinforcing their position as a relevant player in the real estate brokerage investment landscape.



Real Estate Brokerage Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
SchibstedOslo, Oslo, Norway5001-1000018393
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
VNV Global ABStockholm, Stockholm, Sweden1-1019961
Nordic Investment BankHelsinki, Uusimaa, Finland201-500197619
IntrumStockholm, Stockholm, Sweden10001+19232
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
PropTech FarmGothenburg, Västra Götaland, Sweden1-1020210
Butterfly VenturesHelsinki, Uusimaa, Finland1-1020125
Heartcore CapitalCopenhagen, Denmark11-50200717
VismaOslo, Oslo, Norway10001+199616
MarketerOslo, Oslo, Norway11-5020160
Polaris Private EquityCopenhagen, Denmark51-20019984
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
Handelsbanken i SverigeStockholm, Stockholm, Sweden10001+18714
Länsförsäkringar Göteborg och BohuslänGothenburg, Västra Götaland, Sweden201-50018452
IndustrifondenStockholm, Stockholm, Sweden11-5019799
M2 Asset Management ABStockholm, Stockholm, Sweden11-5019981
Spiltan InvestStockholm, Stockholm, Sweden11-5019860


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