Comparison
Raziel vs Cake Equity
Cake Equity is a cap table and equity management platform for startups. Raziel is built for private markets: startups, SPVs, funds and entities, with founder tools under the same login.
Last reviewed October 28, 2026
At a glance
Which one fits you
Start with the portfolio you hold. Here is who each tool is built for, and what it costs.
Choose Raziel if
Founders who want a fundraising pipeline with target checks and investor updates next to a cap table, free through 100 contacts, and investors who want every startup, SPV, fund position and entity in one portfolio with returns from real cash flows.
Pricing: Founder free to 100 contacts. Investor $49/month after a 14-day trial.
Choose Cake Equity if
Startups that want their cap table, SAFE and note paperwork with e-signing, employee option grants, 409A valuations and shareholder communications in one platform, with a free plan for very small cap tables.
Pricing: Free up to 5 stakeholders; Build from $1,000/year
Feature by feature
Raziel and Cake Equity, side by side
The same rows on every comparison, with notes where the answer needs context.
| Feature | Raziel | Cake Equity |
|---|---|---|
| Asset coverage | ||
| Startup equitySAFEs, convertible notes, priced rounds | Yes SAFEs, priced rounds and secondaries, re-marked when a new round is recorded. | Partly Investors see holdings, documents and updates for companies that use Cake in the My Cake portal. |
| SPVs and fund LP positionsCommitments, capital calls, distributions | Yes Commitments, capital called, NAV and distributions beside direct holdings. | Partly An SPV add-on manages SPV and bare trust holdings on a company’s cap table. LP capital calls and distributions are not listed. |
| Entities and vehiclesLLCs, trusts, family office structures | Yes Holdings across LLCs, trusts and personal accounts. | Not listed |
| Public equitiesBrokerage accounts and stocks | Coming soon Brokerage connections are coming soon. | Not listed |
| Real estateProperty values, income, gains | Coming soon Property tracking is coming soon. | Not listed |
| CryptoWallets and exchanges | Coming soon Wallet connections are coming soon. | Not listed |
| Investor tools | ||
| Returns from cash flowsMOIC, IRR, TVPI, DPI | Yes MOIC, IRR, TVPI and DPI from the cash flows you record. | Not listed |
| Automatic document importStatements, K-1s, SAFEs | Yes Forward statements, capital call notices and SAFEs. AI is optional. | Partly An AI scanner reviews uploaded equity agreements for errors and missing fields. |
| Portfolio company newsRounds and headlines on your holdings | Yes Rounds and news on the companies you hold. | Not listed |
| Founder tools | ||
| Fundraising CRMInvestor pipeline for founders | Yes Kanban pipeline with target checks. | Not listed |
| Investor updatesWrite, send and track updates | Yes Open and click tracking. | Yes Templates, mail merge, two-way messaging and reactions. Advanced features on higher plans. |
| Cap tableOwnership, options, dilution | Yes Ownership, options and dilution for the company you run. | Yes SAFEs, convertible notes, options, RSUs, warrants and fundraising modeling. |
| Platform | ||
| SharingAdvisors, family, partners | Yes Owner, editor and viewer roles per workspace. | Yes View only, edit, admin and owner roles; investors see only their own holdings. |
| Native mobile appsiOS and Android | Yes Live on the App Store and Google Play. | Web app for home screen A progressive web app installed from the browser, with push notifications. No App Store or Google Play app. |
| Free planFree tier or free trial | Founder free to 100 contacts Founder is free through 100 contacts. Investor has a 14-day free trial. | Free up to 5 stakeholders |
| SecurityMFA, encryption, audits | Mandatory MFA Mandatory MFA, private networking. SOC 2 Type II and ISO 27001 in progress. | ISO 27001, 2FA AES-256 at rest, TLS in transit, hosted on AWS in Australia. 2FA is required on Pro. |
| More differences | ||
| 409A valuationsTwo a year on Team and Pro, or a $1,500/year add-on. | No | Yes |
| SAFE, note and option paperwork with e-signing | No | Yes |
| Data roomPer-person access, password-protected links and a timestamped view log. | No | Yes |
- Yes
- Partly
- Coming soon
- No
- Not listed
Key differences
What actually sets them apart
-
Equity administration versus fundraising workflow
Cake is an equity system of record: it issues SAFEs, notes and option grants with e-signing and offers 409A valuations. Raziel keeps a cap table view and adds a Kanban fundraising pipeline with target checks, which Cake does not list.
-
Investor communication
Both let founders send updates. Cake’s communications run through the My Cake portal with two-way messaging and reactions, aimed at current shareholders. Raziel’s investor updates sit in the same workspace as your fundraising pipeline and track opens and clicks.
-
Investor side
Cake gives investors a portfolio view of holdings in companies that use Cake. Raziel’s Investor plan tracks any startup, SPV, fund position or entity, and calculates MOIC, IRR, TVPI and DPI from your cash flows.
-
Pricing and mobile
Cake is free up to 5 stakeholders, then from $1,000/year. Raziel’s Founder plan is free through your first 100 contacts, then $29/month. Raziel has native iOS and Android apps; Cake works as an installable web app.
To be fair
Where Cake Equity is strong
No tool is right for everyone. These are the areas where Cake Equity does more than Raziel today.
- Full equity administration for startups: SAFEs, convertible notes, option and RSU grants with e-signing, board approvals and options exercising.
- 409A valuations included twice a year on Team and Pro, plus QSBS, Rule 701, Form 3921 and ASC 718 support.
- A data room that renders your live cap table with per-person access and a timestamped view log.
- ISO 27001 certification today, where Raziel’s ISO 27001 is in progress.
- Free managed migration from Carta, Pulley or a spreadsheet.
Pricing
What each costs
Raziel
Founder free to 100 contacts. Investor $49/month after a 14-day trial.
- Founder: free through your first 100 contacts, then $29/month.
- Investor: 14-day free trial, then $49/month through 30 companies.
- Investor: $199/month for more than 30 companies.
- Paid plans auto-renew until you cancel.
See full pricing
Cake Equity
Free up to 5 stakeholders; Build from $1,000/year
- Free: up to 5 stakeholders, including the cap table, stock options and SAFE notes.
- Build: $1,000/year billed annually (quarterly billing available), 25 stakeholders included.
- Team: $2,750/year, annual only, 40 stakeholders included, two 409A valuations a year.
- Pro: custom pricing, 100 stakeholders included, ASC 718 reporting and managed migration.
- Add-ons on annual plans: 409A valuation $1,500/year, QSBS $500, SPV $500, stock-based compensation $500.
- Prices shown are from the United States view of the pricing page.
As listed on October 28, 2026. Check Cake Equity’s site for current prices.
Switching
Moving from Cake Equity to Raziel
Most of the setup is importing what you already have. The Investor plan starts with a 14-day free trial.
- Keep Cake as your equity system of record if you use it to issue SAFEs and options. Raziel works alongside it.
- Start free on Raziel’s Founder plan and import your investor contacts from a spreadsheet.
- Run your raise on Raziel’s Kanban pipeline and send investor updates with open and click tracking.
- If you invest, start a 14-day Investor trial and add your startup, SPV and fund positions.
Raziel vs Cake Equity: questions
Does Raziel replace Cake Equity?
Not for equity administration. Cake issues SAFEs, notes and option grants, handles e-signing and offers 409A valuations, and Raziel does not. Raziel covers your fundraising pipeline, investor updates and a cap table view, plus tracking your own investments.
Does Cake Equity have a fundraising CRM?
Cake offers fundraising modeling, SAFE and note workflows and a data room, but it does not list an investor pipeline or CRM. Raziel’s Founder plan includes a Kanban pipeline with target checks.
How does pricing compare?
Cake is free up to 5 stakeholders, with Build at $1,000/year and Team at $2,750/year. Raziel’s Founder plan is free through your first 100 contacts, then $29/month. The Investor plan is $49/month through 30 companies after a 14-day trial.
Do both have mobile apps?
Raziel has native apps on the App Store and Google Play. Cake works as a progressive web app that you add to your home screen from the browser, with push notifications.
Can investors track their holdings in both?
In Cake, investors see holdings in companies that use Cake through the My Cake portal. In Raziel, investors add any startup, SPV or fund, whichever platform the company uses, and see MOIC and IRR from their own cash flows.
Sources
Where this information comes from
Product details change. Information about Cake Equity comes from public sources listed below, reviewed October 28, 2026. Spotted something out of date? Contact us.
- Cake Equity pricing (cakeequity.com)
- Cake Equity investor relations (cakeequity.com)
- Cake Equity for investors (cakeequity.com)
- Cake Equity capital raise tools (cakeequity.com)
- Cake Equity data room (cakeequity.com)
- Cake Equity AI document scanner (cakeequity.com)
- Cake Equity FAQ: does Cake have an app? (cakeequity.com)
- Cake Equity security (cakeequity.com)
Last reviewed October 28, 2026. Raziel details come from our pricing and security pages.
More comparisons
Compare Raziel with other tools
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- Cap table and 409A valuations Raziel vs Eqvista Eqvista is an equity management and valuation company. Read the comparison
- Fundraising CRM and investor database Raziel vs Foundersuite Foundersuite is a fundraising platform for startups. Read the comparison
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