What is the best cap table software for a startup in 2026?
The right pick depends less on features than on your stage: before, during or after the round.
At pre-seed your cap table fits in one tab: two or three founders, a couple of angels on SAFEs. Then comes the priced round, the option pool, the first ten hires with grants. That is when a broken formula gets expensive, because investor counsel will rebuild your table during diligence. We compared the tools an early-stage company can actually afford, all priced on the same 20-stakeholder table.
Short answer: Capboard for the lowest price per stakeholder, Ledgy to start free and grow into Series B, Eqvista if you need a 409A bundled with the cap table, SeedLegals for UK founders who want the legal paperwork and EMI options in one place.
The ranking is editorial: a sponsored spot is always labeled on its card, and no affiliate link changes a score.
The best cap table software by stage
The 5 tools compared for a startup
Rank follows score, and the score weighs what matters to a company that is raising: cost at 20 stakeholders, SAFE and option handling, and how clean the export is for diligence. The price column shows the entry price each vendor publishes.
| Best for | What it does best | Free plan | Team size | Visit | ||||
|---|---|---|---|---|---|---|---|---|
| 1 | Capboard | Best value | Billed per stakeholder, no tier jumps | 4.4/5 | $360 a year minimum (15 stakeholders) | — | Lean teams up to 50 stakeholders | Visit → |
| 2 | Ledgy | Best to grow into | Free start, built for Series B | 4.3/5 | Free (Launch), then €5,000 a year | ✓ | Startups hiring fast | Visit → |
| 3 | Eqvista | Best with a 409A | Free under 20 stakeholders | 4.2/5 | $0, then $2 per stakeholder per month | ✓ | US C-corps at pre-seed and seed | Visit → |
| 4 | SeedLegals | Best for UK founders | Round paperwork and EMI options | 4.2/5 | £649 a year + VAT (Access) | — | UK startups raising seed | Visit → |
| 5 | Cake Equity | Best free plan for founders | Free up to 5 stakeholders | 4.0/5 | $0, then $1,000 a year (Build) | ✓ | Founders-only cap tables | Visit → |
Prices read on each vendor's official pricing page in 2026. Ledgy prices in euros, SeedLegals in pounds.
Is your tool missing from this page? Email us: hello@hackceleration.com
How we compared and scored
A startup does not buy cap table software the way a late-stage company does. It has few stakeholders, little budget, and one event coming fast: the round, with its data room and diligence questions. So we priced every tool on the same 20-stakeholder table (three founders, six angels, one fund, ten option holders), then looked at what happens at 40.
We read each vendor's pricing and feature pages, then user reviews, especially the bad ones. Scores match our general cap table software ranking: one tool, one score across the site.
What is not ranked, and why. Carta publishes no price we could read, so we do not rank a price we cannot check. Pulley announced it is shutting down at the end of 2026. AngelList limits cap table management to companies using its own investment vehicles.
- Features and depthSAFEs and notes, option grants and vesting, round modeling, clean exports for diligence.35 %
- Value for moneyYearly cost at 20 then 40 stakeholders, tier jumps when the pool grows.30 %
- Ease of useSetup by a founder alone, without a lawyer in the room.15 %
- Support and integrationsHelp loading historic data, a human answer, payroll and e-signature links.20 %
The ranking is editorial: a sponsored spot is always labeled on its card, and no affiliate link changes a score.
Capboard
Capboard has a simple model: you pay per stakeholder, and that is it. Billed yearly, it costs $2 per stakeholder per month, with a $360 yearly minimum that covers up to 15 stakeholders. On our 20-stakeholder table, that comes to $480 a year. At 40 stakeholders, $960.
That matters when you are hiring. Adding three option holders raises the bill by $72 a year, not by a full tier. The 14-day trial starts without a card, which gives you time to import your spreadsheet and check every line.
One detail founders miss: Capboard says the per-stakeholder rate includes all of its features, with no limits. The catch: few public reviews so far, and its pricing pages do not list a bundled 409A, so ask in the demo who handles your valuation.
- Per-stakeholder pricing, no tiers
- All features included in the per-stakeholder rate
- 14-day trial, no card
- ✓$480 a year at 20 stakeholders
- ✓The bill grows with your pool, not in jumps
- ✓Founder-friendly setup
- ✗Few public user reviews
- ✗No 409A bundle listed on its pricing
- ✗Smaller ecosystem of integrations than Ledgy
The cheapest serious option while you stay under 50 stakeholders. If you are a US company, sort out your 409A before the first grant.
Ledgy
Ledgy, a Swiss vendor (Ledgy AG), has a real free plan. Launch includes a multi-entry cap table, equity plans and grants, simple vesting and stakeholder dashboards. Its pricing page caps it at 50 stakeholders in the table and at 25 in a banner, so plan on 25 to be safe.
The catch is the next tier. Scale starts at €5,000 a year. For a team that goes from 25 to 30 stakeholders by hiring, that is a big step next to Capboard's $480. Ledgy earns that price when you need what Scale adds: a data room, HRIS integrations, unlimited collaborators.
Where it shines: the employee portal, which shows each holder what their options could be worth at different exit prices. That is a hiring tool, not just a compliance one. Prices are in euros, which US buyers should factor in.
- Free Launch plan
- Employee portal with exit scenarios
- Same tool from pre-seed to Series B
- ✓$0 while the table is small
- ✓Vesting and grants included on Launch
- ✓Deep equity plan features
- ✗Jump to €5,000 a year on Scale
- ✗Free-plan cap shown as 25 and 50
- ✗Priced in euros
Great for starting free and keeping option holders informed. Run the numbers on Scale before your hiring plan, not during it.
Eqvista
Eqvista gives you a free cap table while you have fewer than 20 stakeholders, with no card needed. Above that, Premium costs $2 per stakeholder per month, and pricing turns custom past 50. On our 20-stakeholder table, that is $480 a year, the same as Capboard.
Its real angle for startups is the 409A. Before you grant options in the US, you need a fair market value. Eqvista bundles a 409A with the cap table from $990 a year pre-revenue, $1,290 at the angel stage, $1,990 at seed and $2,590 at Series A. The vendor notes these tiers can vary, so ask for a written quote.
The limit: it is built around US rules. Outside the US, you would be paying for a valuation you do not need.
- Free under 20 stakeholders
- 409A bundles priced by stage
- SAFEs and round modeling on Premium
- ✓Free plan covers most pre-seed tables
- ✓One vendor for cap table and 409A
- ✓Public prices
- ✗Built for US companies only
- ✗409A tiers can change with your case
- ✗Custom pricing above 50 stakeholders
The practical choice for a US startup that needs its first 409A. Outside the US, pick Capboard or Ledgy instead.
SeedLegals
SeedLegals is a legal platform for startups first, and the cap table comes with it. Every UK plan includes cap table management with unlimited shareholders, starting with Access at £649 a year plus VAT.
For EMI options, the tax-advantaged UK scheme, you need the Options plan at £2,699 a year plus VAT: it is the only plan with unlimited EMI schemes and EMI valuations. Rounds are billed on top: a Seed or Series A round costs £1,990 plus VAT, and SEIS/EIS Advance Assurance £499 plus VAT.
Add those up before you commit. A first-time founder who raises and sets up EMI in the same year can pass £4,000 with VAT, still often less than a law firm billing by the hour. US founders will find the documents built for UK law.
- Unlimited shareholders on every plan
- EMI schemes and valuations on Options
- Round documents generated with the cap table
- ✓Replaces part of the lawyer's hours
- ✓Cap table updates when documents are signed
- ✓SEIS/EIS paperwork available
- ✗Round fees billed on top of the plan
- ✗£2,699 a year for EMI
- ✗Built for UK law
The right pick for a UK startup in the year it raises or sets up EMI. Outside those moments, a pure cap table tool costs less.
Cake Equity
Cake Equity, from Australia, is free up to 5 stakeholders. That is small, but it is exactly a pre-seed table: founders, maybe one angel. You set up founder vesting and have a clean base to show.
Build costs $1,000 a year with 25 stakeholders included, then $1 per extra stakeholder. Team is $2,750 a year for 40 stakeholders, with two 409A valuations a year included. On Build, you can add a 409A for $1,500 a year.
The math matters: at 20 stakeholders, Build costs $1,000 against $480 at Capboard or Eqvista. Cake earns its place when the bundled 409As on Team save you a separate valuation bill.
- Free up to 5 stakeholders
- Two 409As a year on Team
- Public prices, no sales call
- ✓$0 for a founders-only table
- ✓Clear price grid
- ✓Easy setup
- ✗Build costs twice Capboard at 20 stakeholders
- ✗Free plan too small after the first angels
- ✗$5 per extra stakeholder on Team
A good free ramp for the founding team. Move to Team only if the bundled 409As replace a bill you would pay anyway.
What you need at each stage
The right tool changes as your company grows. Generic lists rank tools in the abstract; here is what matters at each step.
Pre-seed: founders and first angels
With fewer than five stakeholders and a couple of SAFEs, a careful spreadsheet works, or the free plans of Cake Equity, Eqvista or Ledgy. What matters already: signed founder vesting and an 83(b) election filed on time if you are in the US.
Seed: SAFEs convert, first grants
Time to leave the spreadsheet. A SAFE converts on a valuation cap and a discount: one wrong formula changes everyone's stake. Capboard or Eqvista run a 20-stakeholder table for about $480 a year. In the US, you need a 409A before the first option grant. Your books need to keep up too: see our accounting software for startups.
Series A: option pool and a fund on the table
With 30 to 50 stakeholders, a real pool and a lead investor asking for clean reporting, look at Capboard ($960 a year at 40), Ledgy Scale if the employee portal and integrations matter, or Cake Team if two 409As a year help. For the rest of your corporate records, see our entity management software ranking.
- Count stakeholders the way the vendor does, option holders included.
- Price the next tier before you approve your option pool.
- Model the round fully diluted, pool included.
- Check that a full export (Excel and PDF) is on your plan.
- In the US, get the 409A before the first grant, not after.
- Read the auto-renewal clause before paying yearly.
Get your cap table diligence-ready
Investor counsel will rebuild your table line by line. Four moves keep them from finding a gap.
Reconcile the table with the documents
Once, before importBefore you import your spreadsheet, match every line to the document behind it: incorporation papers, board consents, stock purchase agreements, SAFEs, grant letters. Software copies your mistakes as faithfully as your good numbers.
The classic gap: a grant approved by email but never by a board consent.
- Documents
- Board consents, SAFEs, grant letters
- When
- Before import
Model fully diluted
For the term sheetInvestors think fully diluted: shares, granted options, the unallocated pool, SAFEs to convert. Model your round with the pool created before and after the new money. The gap can move your stake by several points.
Ask your lawyer whether the term sheet puts the pool pre-money or post-money.
- Include
- Granted and unallocated pool
- Watch
- Pool pre or post-money
Export every quarter
Every quarterPulley announced it is shutting down at the end of 2026, and its customers had a few weeks to move. Keep a full export of your cap table at home every quarter, in Excel and PDF.
If your plan does not allow that export, change plan or tool.
- Formats
- Excel and PDF
- Rhythm
- Every quarter
Give investor counsel access
During diligenceInstead of emailing files that go stale, give read access to investor counsel or add the table to your data room. On Ledgy, collaborators are unlimited from the Scale plan up.
- Who
- Investor counsel
- Cost
- Depends on the tool
Go further
These pages add to this one without repeating it.
Cap table software for startups · FAQ
When should a startup move its cap table off a spreadsheet?
At your first SAFE conversion or your first option grant. Before that, a spreadsheet handles founders and one angel. After, one wrong formula on a SAFE conversion changes everyone's stake, and investor counsel will find it.Is there free cap table software for startups?
Yes. Eqvista is free under 20 stakeholders, Ledgy Launch is free for small tables (its page says 25 or 50), Cake Equity up to 5. Watch the exit: Ledgy Scale starts at €5,000 a year, while Eqvista and Capboard charge $2 per stakeholder per month.How much does cap table software cost for 20 stakeholders?
From $0 to about $2,700 a year. Capboard and Eqvista Premium come to about $480 a year, Cake Equity Build $1,000, SeedLegals Access £649 plus VAT. Add a 409A in the US: from $990 a year bundled at Eqvista.Do I need a 409A valuation before granting options?
For a US company, yes: the strike price has to be at least fair market value, and a 409A gives you that safe harbor. Eqvista and Cake Equity list 409A bundles on their pricing pages; with other tools, ask who handles it.Is Carta free for startups?
Carta does not publish a price we could read, so we did not rank it. Ask for a written quote based on your stakeholder count, and compare it with Capboard or Eqvista at $2 per stakeholder per month.What should I do if my startup was on Pulley?
Export everything now, then reconcile it with your board consents and grant letters before importing it elsewhere. Pulley announced it is shutting down at the end of 2026 and offered a move to Carta; you can pick another tool.How do SAFEs show up in cap table software?
As convertible instruments: you enter the amount, the valuation cap and the discount, then model the conversion at the next priced round. Check whether the tool handles post-money SAFEs before you import yours.