Belgium-based regulatory technology firm RiskConcile has acquired London-headquartered Fitz Partners, a specialist provider of fund fees and expense data, in a move to expand its offerings across Europe. The deal marks the first step in RiskConcile’s international “buy-and-build” growth strategy since the company received backing from Main Capital Partners in June 2024. By joining forces, RiskConcile and Fitz Partners plan to create a pan-European platform that combines advanced regulatory reporting tools with proprietary fund data capabilities to better serve asset managers in the fund industry.

Fitz Partners: A leading fund data specialist

Founded in 2013, Fitz Partners has built a reputation as a leading provider of fund fee and expense data for the European asset management sector. The firm’s comprehensive databases and reports offer meticulously calculated, independently verified breakdowns of fund costs, enabling asset managers to conduct precise cost reviews and make informed strategic decisions.

Fitz Partners counts over 65 of the world’s largest asset and fund management companies among its clients, reflecting its strong position in the UK and cross-border fund markets. The company is also expanding its coverage to new regions – it plans to extend its fee data and board reporting services to the local French fund market in the coming months. This growing repository of fee data adds a valuable component to RiskConcile’s technology toolkit, which until now has focused primarily on regulatory reporting and risk calculations.

Synergies driven by regulatory pressures

The acquisition comes at a time of intensifying regulatory pressures and rising transparency expectations in the European funds industry. Asset managers are facing ever-stricter reporting requirements and investor demands, from cost disclosure rules to value-for-money assessments. High-quality, granular fund data has become a critical foundation for both compliance and competitive advantage, as it allows deeper insights and faster responses to evolving regulatory mandates.

By integrating Fitz Partners’ rich fee and expense datasets with RiskConcile’s cloud-based regulatory reporting and risk calculation platform, the combined group aims to deliver an all-in-one solution for asset managers who need efficient and reliable tools to meet these challenges. In practical terms, asset management firms could benefit from a more streamlined process – for example, using Fitz’s fee benchmarks alongside RiskConcile’s analytics to quickly ensure their funds meet new transparency standards or investor disclosure obligations.

The leaders of both companies underscored the strategic fit and benefits for clients. RiskConcile’s Co-Founder and CEO Jan De Spiegeleer noted that Fitz Partners’ proprietary fee database and reporting expertise are a strong addition to RiskConcile’s platform, saying the combined entity is “uniquely positioned to help asset managers and fund management companies navigate an increasingly complex regulatory landscape with greater efficiency, insight and confidence.”

Hugues Gillibert, Founder and CEO of Fitz Partners, echoed this sentiment, expressing that he is pleased to join forces with RiskConcile in a way that allows Fitz to continue its expansion while maintaining its culture of excellence. He highlighted the immense synergies between the firms and looks forward to providing even greater support and market intelligence to their UK and cross-border clients, with an eye toward continued growth and new local market coverage in the years ahead.

Outlook: Building a pan-European regtech leader

Industry observers note that this deal reflects a broader trend of consolidation in financial technology, where firms are combining data analytics with compliance tools to offer end-to-end solutions. For RiskConcile, which is now a Main Capital Partners portfolio company, the Fitz Partners acquisition is a significant step toward its ambition of becoming a pan-European leader in regulatory technology for the fund sector.

Jorn de Ruijter, Investment Director at Main Capital and Chairman of RiskConcile’s board, said the acquisition “perfectly aligns with our strategy to build market-leading software groups” and that the combination creates a stronger, more comprehensive organization. He also emphasized that it reinforces Main’s ability to execute cross-border deals in strategic markets like the UK.

Looking ahead, the integration of Fitz Partners’ data with RiskConcile’s platform could give clients a one-stop shop for regulatory reporting and cost analytics, potentially simplifying compliance workflows. This move is also likely not the last for RiskConcile – as the first acquisition in a planned series, it signals the start of an expansion drive across Europe. With Main Capital’s backing and a stated “buy-and-build” strategy, RiskConcile may pursue additional acquisitions or partnerships to broaden its software suite and geographic reach. Asset managers can expect a more robust suite of tools from the combined company, and the fund industry at large will be watching to see how this newly enlarged group competes in delivering data-driven insights and regulatory technology amid an increasingly complex oversight environment.

Key takeaways for fintech startups

Here’s what fintech founders can learn from this move:

Specializing in a narrow, high-value domain like fund fees and expenses can create defensible differentiation and attract major clients.
Strategic acquisitions work best when the companies are complementary; in this case, data meets delivery platform.
International presence adds acquisition value. Fitz’s UK and cross-border exposure made it a strong fit for a pan-European expansion strategy.
Proprietary, clean data is becoming a key differentiator in regtech. It enables insight, not just automation.
The right capital partner doesn’t just provide funding; it enables faster growth, stronger positioning, and more ambitious moves.

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