Objective: Although fear of birth is common during pregnancy and childbirth, the best treatment for fear of birth in clinical care remain unclear. Strong evidence suggests that continuity models of midwifery care can benefit women and birth outcomes, though such models are rare in Sweden. Because women with fear of birth could benefit from such models, the aim of this qualitative study was to examine how women with fear of birth and their midwives experienced care in a modified caseload midwifery model. Methods: A qualitative interview study using thematic analysis. Participants were recruited from a pilot study in which women assessed to have fear of birth received antenatal and intrapartum care, from a midwife whom they knew. Eight women and four midwives were interviewed. Results: An overarching theme—“A mutual relationship instilled a sense of peace and security”—and three themes—“Closeness, continuity, and trust,” “Preparation and counselling,” and “Security, confidence, and reduced fear”—reflect the views and experiences of women with fear of birth and their midwives after participating in a modified caseload midwifery model. Conclusions: For both women with fear of birth and their midwives, the caseload midwifery model generated trustful woman–midwife relationships, which increased women's confidence, reduced their fear, and contributed to their positive birth experiences. Moreover, the midwives felt better equipped to address women's needs, and their way of working with the women became more holistic. Altogether, offering a continuity model of midwifery care could be an option to support women with fear of birth.