- Cap table software at a glance
- Nine cap table tools to consider
- Free cap table, UK share scheme platform or equity suite?
- UK founders: check EMI eligibility tracking
- Keep an export, whatever you choose
- Questions to ask before you sign up
- Features investors notice
- My plain advice on choosing cap table software
- Frequently asked questions
The best cap table software depends on your stage and country: a free cap table suits early founders, a UK platform suits companies with SEIS, EIS or EMI schemes, and an equity suite suits scale-ups heading for a big round. Nine options follow in no particular order.
A cap table starts as a tidy spreadsheet with two founders on it. Then come advisers, an angel round, an option pool and a convertible note, and suddenly nobody's sure who owns what. That's the moment cap table software stops being optional.
The nine tools below are listed alphabetically and in no particular order, from free cap tables for early founders to suites used by companies preparing for an IPO. Every description comes from the vendor's own site, read this week. If you're planning the wider numbers, my guide to financial planning for start-ups is a useful companion.
Cap table software at a glance
In the free plan column, Yes means the tool's own site names a free plan, a free version, a free app or an open source edition. Trial only means a time-limited trial. Not stated means the pages I read named neither, even where there's a button inviting you to try it.
| Tool | Type | Good for | Free plan |
|---|---|---|---|
| Astrella | Ownership data and cap table software | Employee stock plan tracking | Trial only |
| Cake Equity | Cap table and equity platform | Growing start-ups and culture | Not stated |
| Carta | Equity management and private capital suite | Start-ups planning for scale | Yes |
| Eqvista | Equity management platform | A free cap table to start | Yes |
| J.P. Morgan Workplace Solutions | Equity management software | Companies with large employee plans | Not stated |
| Ledgy | Equity and executive compensation management | Scale-ups going global | Not stated |
| Qapita | Equity management and cap table software | A single source of truth for equity | Not stated |
| SeedLegals | UK legal and fundraising platform | UK start-ups raising a round | Not stated |
| Vestd | Share scheme and equity management platform | UK share schemes and HMRC filings | Not stated |
Nine cap table tools to consider
Astrella
Best for: Private companies that want cap table management and employee stock plan tracking without the admin of updating spreadsheets.
Cake Equity
Best for: Growing start-ups that want an accurate cap table, compliance readiness and equity used to build culture, with help migrating in.
Carta
Best for: Venture-backed start-ups that want to issue shares and manage equity, with a free Launch plan for early-stage founders.
Eqvista
Best for: Early-stage founders who want a free cap table to begin with and equity management help from a human team later on.
J.P. Morgan Workplace Solutions
Best for: Larger companies that want equity management software backed by a major bank, with views for HR, legal and finance teams.
Ledgy
Best for: Scale-ups heading toward an IPO that want equity and executive compensation management with compliance support across countries.
Qapita
Best for: Start-ups that want to track, issue and report equity from a single source of truth for founders, investors and employees.
SeedLegals
Best for: UK start-ups that want their cap table, share options, SEIS and EIS paperwork and funding round documents on one platform.
Vestd
Best for: UK companies that want share schemes, cap tables, fundraising records and HMRC filings kept together in one place.
Free cap table, UK share scheme platform or equity suite?
Free cap tables suit founders who need an accurate record and simple share issues. UK platforms add share schemes, SEIS and EIS paperwork and HMRC filings. Equity suites add employee portals, global compliance and support for complex rounds and executive plans.
Your next round is a good guide. If investors will do due diligence soon, the tool needs to produce clean records they can trust, without a week of tidying first.
Want AI doing the heavy lifting in your marketing?
I build the systems that handle the boring 80 percent, so you get your week back. Done properly, with the human kept in.
UK founders: check EMI eligibility tracking
GOV.UK says that to get EMI options you must work at least 25 hours a week or 75% of your total working time for the company, and companies in excluded activities are not allowed to offer EMI.
So the software should track more than who holds what. Ask how it records eligibility, working time and option grants, and how it helps with the filings that follow.
Keep an export, whatever you choose
Vendors change. Pulley's own site now carries a notice that it's shutting down, with an exclusive partnership that helps customers move to Carta. Download a full export of your cap table regularly, so a change of vendor is an inconvenience, not a crisis.
Questions to ask before you sign up
- Can we import our current spreadsheet cleanly?
- How do investors and employees view their holdings?
- Does it handle options, warrants and convertible notes?
- Which country-specific schemes and filings does it support?
- Can we model a new round before we agree it?
- How do we export everything if we leave?
Features investors notice
- Clean history. Every issue and transfer recorded with dates.
- Scenario modelling. You see dilution before you sign.
- Stakeholder portals. Fewer emails asking who owns what.
- Data room exports. Due diligence goes faster.
Do you make equity management software? Tool makers can ask to be considered for a featured place on this list.
My plain advice on choosing cap table software
Choose for the round after next, not just today. Moving your cap table later is possible, but it's admin you won't want during a fundraise. Ask each vendor how investors and employees see their holdings, and test it with your real data.
UK founders should favour a tool that understands SEIS, EIS and EMI, because those schemes come with their own rules. For the growth side of the business, my notes on preparing a start-up for growth are a good next read.
Frequently asked questions
What is cap table software?
It's software that records who owns shares and options in a company, tracks changes like new rounds and grants, and keeps an accurate history.
Do I need cap table software as an early start-up?
Not always on day one, but once you add investors, advisers or an option pool, a spreadsheet gets risky. Free plans exist for early founders.
Is there free cap table software?
Yes. Eqvista offers a free cap table to start. Check the table for each tool's free plan status.
What's an option pool?
It's a set of shares reserved for future employee options, usually agreed during a funding round and tracked in the cap table.
Which cap table software suits UK companies?
UK-focused platforms such as Vestd and SeedLegals cover share schemes and HMRC filings, according to their own sites.
What is EMI?
Enterprise Management Incentives is a UK share option scheme with eligibility rules set out on GOV.UK, including minimum working time for employees.
