Your cap table is a living record of who owns what in your company. Get it wrong, and it costs you in every funding round, option grant, and exit negotiation. The right cap table management tool keeps it clean, auditable, and ready when investors ask.
This guide compares the best cap table tools available in 2026 by stage, price, and geography.
What is cap table management software?
A cap table management tool tracks equity ownership in your startup: founders, investors, employees with options, advisors, and convertible instruments like SAFEs and convertible notes. It replaces the spreadsheet most founders start with and adds scenario modelling, 409A valuation support, and investor reporting as you scale.
What to look for
- Stage fit: pre-seed tools are simple and cheap; Series B+ tools need SPV support and fund administration
- Geography: Carta and Pulley are US-optimized; Ledgy and Cake Equity understand European and APAC legal frameworks
- Pricing model: flat-rate vs per-stakeholder vs enterprise costs spike fast at Carta as you add stakeholders
- Investor portal: can LPs and shareholders self-serve their documents and statements?
- 409A valuations: some tools include these; others charge separately
The best cap table management tools in 2026
1. Carta
Carta is the market standard for US startups from seed through IPO. It handles cap tables, 409A valuations, option grants, fund administration, and investor reporting in one platform. The trade-off is price: Carta runs $149-$599 per month, and costs scale with stakeholders and features.
Best for: Series A and beyond, US companies, firms that need SPVs and fund administration.
2. Pulley
Pulley was built for early-stage founders. It is free for under 25 stakeholders, making it the default for pre-seed and seed companies in the US. It handles option grants, scenario modelling, and SAFE/convertible note tracking with a cleaner interface than Carta.
Best for: Pre-seed to Series A, founder-friendly pricing, and YC-backed startups.
Pricing: Free up to 25 stakeholders. Startup plan from $1,200/year; Growth from $3,500/year.
3. Mantle
Mantle undercuts Carta on price with a flat-rate model and an AI assistant (Mantle Clerk) that helps founders understand their equity position without a lawyer on call. Unlimited stakeholders on a free Starter plan; paid plans from $1,200/year.
Best for: US and Canadian startups through Series B who want Carta-level features at Pulley-level pricing.
4. Ledgy
Ledgy is the strongest option for European startups. It understands EU legal frameworks that Carta and Pulley do not: CSOP, EMI, and other European equity schemes. Free up to 25 stakeholders; Essential plan from roughly EUR 2,000/year.
Best for: UK, German, French, and Nordic startups. Any globally distributed company with European incorporation.
5. Cake Equity
Cake Equity focuses on scaling headcount and managing equity across employees, advisors, and investors. Rated 4.8/5 on G2. Strong in APAC and Australia, with good support for US and UK structures.
Best for: Growing teams managing employee equity globally.
6. Qapita
Qapita is the dominant cap table tool for Southeast Asian and Indian startups. If you are incorporated in Singapore, India, or the UAE and plan to raise from regional investors, Qapita understands the local regulatory landscape in ways Carta and Pulley do not.
Best for: Southeast Asia, India, and the Middle East.
| Tool |
Free plan |
Starting price |
Best for |
Geography |
| Carta |
No |
$149/mo |
Series A+, SPVs |
US |
| Pulley |
Yes (under 25 stakeholders) |
$1,200/yr |
Pre-seed to Series A |
US |
| Mantle |
Yes (Starter plan) |
$1,200/yr flat |
Seed to Series B |
US, Canada |
| Ledgy |
Yes (under 25 stakeholders) |
~EUR 2,000/yr |
EU incorporation |
Europe, global |
| Cake Equity |
Yes |
Custom |
Employee equity, global teams |
Global, APAC |
| Qapita |
Yes |
Custom |
SEA, India, UAE |
Asia, Middle East |
Which tool is right for your stage?
- Pre-seed (idea to first check): Pulley or Mantle. Both are free for under 25 stakeholders and built for simplicity.
- Seed to Series A in the US: Pulley, Mantle, and early Carta. Scenario modelling for your option pool matters here.
- Series A and beyond in the US: Carta. You will need 409A valuations and SPV support.
- European startup at any stage: Ledgy. Non-negotiable if you are EMI or CSOP-eligible.
- Global or APAC: Cake Equity or Qapita, depending on region.
Not ready for software yet? Use our free cap table template to track ownership in a spreadsheet before you need a dedicated tool.
Once your cap table is clean, the next job is making sure the right investors can actually engage with your deck. Pitchwise tracks who opens your documents, which slides they read, and when they forward it to a partner.
Frequently asked questions
Is Carta free for startups?
No. Carta starts at $149/month. For free cap table management, use Pulley (free under 25 stakeholders) or Mantle (free Starter plan with unlimited stakeholders).
What is the difference between a cap table and a SAFE?
A SAFE (Simple Agreement for Future Equity) is a legal instrument. A cap table tool is software that records the SAFE and calculates how it converts to equity at your next priced round. You need both: the legal document and the software to model the dilution.
Can I manage my cap table in a spreadsheet?
Yes, at pre-seed. Most founders start in Google Sheets. The problem comes when you add outside investors: SAFEs, pro-rata rights, and option grants make manual tracking error-prone. Switch to a dedicated tool before your seed round closes.
Which cap table software is best for European startups?
Ledgy. It is the only major cap table tool that natively supports EMI schemes, CSIPs, and other European equity structures. Carta and Pulley are US-first and require workarounds for European incorporation.
