Regnology: transforming regulatory and supervisory technology across financial services

Regnology is a cloud-focused software vendor with deep regulatory expertise across the full reporting value chain. Its solutions support banks, insurers and regulators with market-leading software for regulatory reporting and a data model that enables this data to support additional use-cases across risk, finance and tax reporting, enabling more efficient processes, stronger data quality and better compliance outcomes. With more than 25 years of experience in the space, Regnology has built a differentiated position in a market shaped by rising regulatory intensity, a shift to real-time reporting requirements, growing data demands and continued digitalisation.

Building a scaled international platform under Nordic Capital’s ownership

Nordic Capital acquired Regnology in 2020 with a clear ambition to accelerate platform development, support international expansion and strengthen the company’s operational performance. Since then, the business has been transformed from a carve-out into a compounder and is now positioned among the leading platforms in regulatory and supervisory technology globally.

From day one, Nordic Capital applied an active ownership approach. This included strengthening the management team, with several key leaders having previously worked with Nordic Capital following the successful investment in Itiviti, investing in technology and product development and supporting a more scalable commercial and operating model. In December 2024, CPP Investments made a significant minority investment in Regnology alongside Nordic Capital, further strengthening the ownership base and supporting the company’s next phase of international growth.

Together, these initiatives have helped drive strong organic growth, significantly expand margins and increase revenue visibility, creating a stronger foundation for continued growth. It has also established a structured M&A platform, delivering 13 add-on acquisitions under Nordic Capital’s ownership and positioning the company to continue consolidating a fragmented market. Today, Regnology has more than 2,000 employees across over 30 offices globally.

Strategic acquisitions broadening capabilities and geographic reach

Regnology has completed multiple acquisitions on its journey to becoming an international RegTech platform, including b.fine in Belgium, Invoke in France, CG3-1 Regtech in North America, FINGO in Poland, VERMEG’s regulatory reporting business and the carve-out of Wolters Kluwer’s FRR division.

Most recently, in December 2025, the company signed an exclusive agreement to acquire Moody’s Regulatory Reporting & ALM Solutions business, further strengthening its regulatory and risk capabilities and adding to its position as a strategic partner for complex, multi-jurisdictional financial institutions. Together, these acquisitions have expanded Regnology’s footprint, deepened its product offering and reinforced its role at the centre of an increasingly complex reporting ecosystem.

“Nordic Capital’s partnership approach means we are deeply involved in shaping strategic priorities while respecting management’s vision. With Regnology, this has allowed us to support bold investments in technology, talent, and international expansion while ensuring operational excellence remains at the core,” said Fredrik Näslund, Partner at Nordic Capital.

A highly attractive market with long-term structural tailwinds

Regnology operates in a regulatory reporting market that remains largely under-digitised, with fewer than 25 percent of financial institutions using third-party solutions. This creates a significant whitespace opportunity, supported by rising regulatory intensity, increasing demand for granular and real-time data, and a shift toward more automated and integrated reporting solutions.

Regnology is well positioned to benefit from these structural tailwinds. Its differentiated offering combines broad regulatory coverage, strong regulator relationships, SupTech capabilities and a modern technology foundation, making it a strategic partner for both financial institutions and regulators. Nordic Capital believes Regnology is a highly attractive investment in a core sub-sector of Financial Markets Software, with strong fundamentals to support continued organic and inorganic growth.

“At Nordic Capital, we believe sustainability and long-term value creation are inseparable. With Regnology, we have supported the company’s international growth and technological innovation while embedding responsible practices, promoting operational excellence, and ensuring that environmental, social, and governance considerations are integrated throughout the business,” said Elin Ljung, Partner at Nordic Capital.

Three questions to Rob Mackay, CEO:

What stands out to you about Nordic Capital as an owner?

Having worked with Nordic Capital more than once, two things stand out to me. First, they buy good technology; they are good judges of good quality tech. Second, they are thoughtful, patient, long-term investors who are looking to build good products and grow businesses. They understand that things don’t go in a straight line, and that in the long term, it is growth that creates value.

How would you describe the working relationship between Nordic Capital, the Board and management?

It is a very tight relationship. There is complete transparency across financial and operational metrics, which creates alignment between the Nordic team, the Board and management. That transparency enables us to operate as a single team, focused on building and growing the business.

How has that partnership translated into execution at Regnology?

Beyond governance and alignment, the support is practical. Nordic Capital has been proactive in introducing new technologies into the business. A clear example is the deployment of AI tools across different functions, from sales and marketing to HR. The Nordic team has helped drive that adoption, and it has been productive across the organisation.

Published: May 2026