Best Cap Table Management Software in 2026

Carta is a San Francisco-based platform that manages cap tables, equity plans, 409A valuations and fund administration. It is the reference point most of its competitors measure themselves against: several vendors in this list advertise migrations from Carta, and Astrella offers to halve a customer's existing Carta invoice. When it announced a partnership with the New York Stock Exchange in September 2025, Carta said it served nearly 1,000 late-stage companies, including 84% of US companies valued above US$1 billion.

The company expanded into the UK and continental Europe by acquiring London-based Capdesk in 2022, which brought HMRC and Companies House filings, EMI and CSOP support, German VSOP handling and French BSPCE support. The capdesk.com domain now redirects to Carta's UK site. Carta's release notes from late 2025 show the product moving further into administration for complex companies: a modern cap table and more than 40 reports for LLCs, self-service pour-overs between equity plans, revised ISO disqualification reporting and generally available single sign-on.

In 2026 Carta became the designated transition partner for Pulley customers, committing to honour their Pulley pricing for the first full year. Carta's own pricing pages could not be opened for this review, so prices are not quoted here; its help centre maintains a section for users of its free Carta Launch tier.

Ledgy, operated by Ledgy AG, describes itself as a unified platform for non-cash compensation covering equity, deferred compensation and carried interest. Its co-founders identified the problem it addresses in 2017, and by March 2026 it reported more than 1,000 private and publicly listed clients in over 45 countries, over 200,000 users and profitable operations. In March 2026 co-founder Armon Bättig became sole CEO and chairman, while co-founders Yoko Spirig and Ben Brandt left the company and Timo Horstschaefer stayed as CTO.

Ledgy's distinguishing feature is its reach beyond the cap table. The Scale plan adds more than 70 HRIS integrations, DocuSign and Skribble e-signing, automated granting and exercising, EMI and payroll reporting, UK Companies House reporting and independent HMRC, 409A, BSPCE and fair market valuations. Enterprise adds a GraphQL API, dividend workflows, SAML SSO, SCIM provisioning and an IPO-readiness team, and a separate public-company product handles share settlement, broker integration and insider management.

Its pricing page shows one inconsistency: a free plan advertised for up to 25 stakeholders, while the Launch plan itself lists a 50-stakeholder cap table. Paid plans are priced in euros and start at €5,000 a year, above most US challengers.

Fidelity Private Shares is the private-company equity platform of Fidelity Investments; its site footer carries the FMR LLC copyright. It positions the product as a single system for cap tables, governance and fundraising, covering grants, SAFEs, notes and preferred shares, a data room linked to the cap table with permissioned access, dilution and scenario modelling, 409A valuation management, board and stockholder management, ASC 718 reporting and incorporation. The product's login and demo addresses still carry the Shoobx name, the brand under which the platform previously operated.

The pricing structure mirrors the main US vendors. The free Launch tier, for companies with up to 25 stakeholders and less than US$1 million raised, already includes equity plan generation, board consents, scenario modelling, 83(b) election generation, a Rule 701 exemption check and electronic securities. Paid Startup and Growth tiers add investor updates and Form 3921, then 409A valuations, ASC 718 and HRIS and payroll integration, and a Scale tier is tailored to larger companies.

A distinctive offer is incorporation: Fidelity Private Shares will form a Delaware C corporation for US$400, including filing fees, a year of registered agent service and a Launch subscription. Prices for the paid tiers are not published, and the site gives no customer count.

Cake Equity is a cap table and equity plan platform with its registered address in Venice, California, and further offices in Palm Beach, Queensland and Lisbon. Its about page traces the company to 2017, when its founders began in blockchain exploring ownership, names Kim Hansen as co-founder and CEO and Jason Atkins as co-founder and president, records a 2022 raise involving Jason Calacanis and says more than 10,000 companies use the product.

Pricing is published and comparatively low. The Build plan covers cap table management, SAFEs and convertible notes, shareholder vesting, templated option grants, board approvals, fundraising modelling and e-signing. The Team plan adds two audit-ready 409A valuations a year, RSUs and RSAs, a full contract editor, option exercising, warrants, employee benchmarks and access for AI assistants through MCP. Pro is a managed tier for finance executives with ASC 718, Form 3921, Rule 701 tracking, ISO/NSO split handling, international option pools and bare trusts.

Cake states that it is built for the US market, and its legal templates for stock options apply to C corporations only. The free plan is limited to five stakeholders, fewer than most rivals' free tiers.

Mantle is a cap table product operated by Ten Key Labs Incorporated, doing business as Mantle; its site copyright runs from 2022 to 2026. Its main differentiator is the pricing model: every plan, including the free Starter tier, includes unlimited stakeholders with no per-user fees, which removes the overage charges that most rivals apply as a company hires.

Starter offers self-serve spreadsheet import, SAFE e-signing, round modelling and limited AI tooling. Essentials adds concierge onboarding and migration, a one-time cap table clean-up, preferred shares, board consents, HRIS sync and email support. Growth adds an annual 409A valuation, priority support and access to Mantle's SOC 2 Type 2 report, and Growth+ adds ASC 718, Form 3921, QSBS, Rule 701 and 83(b) tracking.

Mantle states that most migrations from Carta or Pulley take three to five business days and that cap tables, reports and documents can be exported in bulk. The company does not publish a customer count, headquarters or founding year on its pricing page, and compliance reporting is reserved for its custom tier.

Qapita is an equity management platform headquartered at 535 Mission Street in San Francisco, with US offices in Los Angeles and New York, Southeast Asian offices in Singapore and Jakarta and six offices in India: Hyderabad, Pune, Bangalore, Delhi NCR, Mumbai and Chennai. Its home page reports more than 2,400 companies served, more than 500,000 stakeholders on the platform and more than US$185 billion of equity under management, of which more than US$28 billion is employee equity. The same page gives both 60+ countries covered and operations across 20 countries, figures that are not reconciled.

The product covers cap tables and employee stock plans for private companies and also serves listed companies, which the site counts separately. Named users shown on the site include ShareChat, Yellow AI and Ninjavan.

Qapita publishes US-dollar pricing with stakeholder caps and explicit per-stakeholder overage fees, which makes its cost more predictable than quote-only rivals. Its free Spark tier is restricted to companies with up to 25 stakeholders and less than US$1 million raised.

Eqvista is a San Francisco-based equity management and valuation company. Its home page says more than 25,000 companies use it and describes three main lines: cap table and ESOP management with vesting schedules and shareholder accounts, IRS safe-harbour 409A valuations produced by an in-house team, and QSBS attestation letters confirming a company's qualified small business stock eligibility.

Its pricing is built around the valuation business. The freemium cap table is free with no credit card for companies with fewer than 20 stakeholders and includes cap table and ESOP management, vesting, stakeholder accounts and a data room. The premium cap table is charged per stakeholder, and the main paid offer is a bundle of a 409A valuation with the premium cap table, priced by funding stage from pre-revenue to Series A, with Series B and later quoted individually.

Eqvista's page notes that tiers may vary with revenue, stakeholder count and capital structure, and its structured data and visible text describe the free plan limit slightly differently (up to 20 shareholders versus under 20 stakeholders). It does not list UK or European scheme support.

EquityList is a cap table and equity plan platform whose pricing page shows a regional selector alongside US-dollar prices. It is one of few vendors in this list to offer monthly as well as annual billing on its main plans, and it meters an AI assistant through monthly credit allowances, with top-ups of 3,000 credits for US$5 and 7,000 for US$10.

The Free plan covers ten stakeholders. Build covers 35 and Growth 50, with automatic per-stakeholder overage billing rather than a hard cut-off. The Growth plan includes a 409A valuation only when billed annually; monthly Growth customers buy it as an add-on. Valuations, IFRS reporting and scheme advisory are quoted separately from any plan.

EquityList advertises 50% off the first year for Y Combinator companies and free migration from Pulley or Carta. Its pricing page does not give headquarters, founding year or customer numbers, so its scale cannot be compared with that of the vendors above.

Astrella is the equity management product of EQ Private Company Solutions, Inc., whose footer address is 28 Liberty Street in New York; the site's About EQ link points to an Equiniti address, though the page does not describe the corporate relationship. Astrella covers cap table management, employee stock plan tracking, scenario planning, BoardNotes for meeting records, a document vault, ASC 718 and 409A valuations and a mobile app, and says it serves companies from start-ups to publicly traded businesses.

Its pricing differs from most rivals in one respect: every feature is available on every package, and tiers vary only by stakeholder count. Features listed include round and exit modelling, DocuSign e-signature, full-service onboarding with a dedicated implementation manager, tracking of options, RSAs, PIUs, convertibles, warrants and SAFEs, and ASC 718 and IFRS reporting. 409A, 83(b), HRIS and corporate actions are add-on services.

Astrella competes openly on switching cost, offering free white-glove onboarding, up to a year of free access on two- or three-year commitments and a stated aim of halving a customer's Carta invoice; the site gives no terms for these offers.

Vestd is a UK equity management platform founded in 2014 by Ifty Nasir and Naveed Akram. It began with a broader start-up investment remit and moved to equity management in 2017, went fully remote in 2019 and became a B Corp in February 2025. Vestd Ltd is authorised and regulated by the Financial Conduct Authority (FRN 685992) and is ISO 27001 certified.

The product is organised around UK share schemes rather than US instruments. The Essentials plan covers the cap table, share movements, share classes and Companies House filings. Starter adds unapproved options and growth shares for up to five recipients with no valuation needed. Guided Service adds EMI, CSOP and phantom share schemes with scheme set-up help, HMRC submission support and unlimited HMRC valuations, and Enterprise provides managed administration with IFRS 2 and HMRC reporting support. An InVestd Raise add-on covers S/EIS advance assurance, founder agreements and share issuance.

All plans carry a 12-month minimum term that renews automatically, and there is no free tier. Vestd won Share Scheme Provider of the Year at the WSB Awards 2024.

Shareworks is the equity administration platform of Morgan Stanley at Work. It originated as Solium, a Calgary-headquartered provider of equity administration, financial reporting and compliance software, which Morgan Stanley acquired for US$1.1 billion in 2019. On completion the business was rebranded Shareworks by Morgan Stanley and became part of a new Morgan Stanley at Work suite alongside retirement and financial wellness services.

The platform is aimed at companies whose equity programmes have outgrown start-up tools: private companies with large option pools, companies preparing to list, and listed companies running employee share plans. Its main advantage over standalone vendors is integration with Morgan Stanley's brokerage and wealth business, which allows the same provider to administer grants before a listing and handle employee share sales after it.

Morgan Stanley's product pages did not load during this review, so the feature list below is limited to what the acquisition coverage states, and no pricing is quoted. Shareworks is sold through enterprise contracts rather than self-serve plans.

Global Shares is a cloud-based share plan management software provider headquartered in Cork, Ireland, which J.P. Morgan acquired in a deal completed on 11 August 2022. At completion it reported more than 600 employees in 20 locations across Europe, the Middle East and Africa, North America and Asia Pacific, about 650 corporate clients, more than 800,000 employee participants and nearly US$200 billion in assets under administration. J.P. Morgan described the business as a provider of employee ownership solutions to private and public companies globally.

Like Shareworks, Global Shares sits at the large-company end of the market. Its value lies in combining plan administration with a bank's custody, brokerage and treasury services, so that employees can sell or hold shares through the same group after a listing. That makes it relevant to private companies with a large international workforce and to companies preparing for an IPO, and less relevant to seed-stage start-ups.

Global Shares' own product pages returned an access error during this review, so features and pricing could not be verified beyond the completion release, and pricing is given as quote-based.

Optio Incentives is an equity incentive and cap table platform operated by Optio Incentives AS, a Norwegian-registered company. It publishes four tiers that follow a company's life cycle: Self-Serve for early-stage start-ups, Scale, Pre-IPO and Public.

The Self-Serve tier includes employee and admin portals, share plan management, cap table management, document automation and employee gains modelling. Scale adds a dedicated customer success manager, employee share purchase and sale, onboarding management and end-to-end exercising. Pre-IPO adds single sign-on, fair value valuation with a memo, cost amortisation, geographical requirements, social security provisions, digital signatures and 409A valuations. Public adds share warehousing, settlement directly to employees, dilution reports, employer tax (NIC) handling, sell-to-cover and cashless exercise and remuneration report data.

Optio does not publish prices for any tier, stating that it works with each customer to agree a price and plan. It is mainly relevant to Nordic and European companies that expect to list and want one provider before and after the listing.