Which Carta alternative should you pick?
It depends on which side of Carta you sit on. If you are a founder replacing Carta as your company's cap table, look at Cake Equity for low published pricing with paperwork included, Eqvista for a cap table and 409A valuations from one provider, and Ledgy for growing and international teams. If you are an investor who only used Carta to see your holdings, the better fit is a portfolio tracker: Raziel for every startup, SPV and fund in one place, Seraf for an angel-specific tool, or the dashboards AngelList and Sydecar give you for deals made on their platforms.
Pricing and plan details below come from each vendor's public pages as of October 28, 2026. Check them again before you sign, since plans change. Pulley is left out because it shuts down on December 8, 2026 (see Pulley alternatives).
Carta alternatives compared (as of October 2026)
| Platform | Best for | Free plan or trial | Published pricing |
|---|---|---|---|
| Cake Equity | Founders: cap table, SAFE and option paperwork with e-signing | Free up to 5 stakeholders | Build $1,000/year (25 stakeholders); Team $2,750/year |
| Eqvista | Founders: cap table plus in-house 409A valuations | Free under 20 stakeholders | Premium $2 per stakeholder per month; 409A bundle from $990/year |
| Ledgy | Founders: equity plans for growing and international companies | Launch plan is free | Scale from €5k/year; Enterprise from €18k/year |
| Raziel | Investors: every startup, SPV and fund in one portfolio. Founders: fundraising and updates beside a cap table | Investor: 14-day trial. Founder: free through 100 contacts | Investor $49/month through 30 companies, $199/month above; Founder $29/month after 100 contacts |
| AngelList | Investors in AngelList syndicates, SPVs and funds | No separate LP fee listed | Fund admin from 0.1% of fund size plus $10,000/year (paid by managers) |
| Seraf | Angels and angel groups wanting a dedicated tracker | 30-day trial | Advanced $600/year; Professional $800/year |
| Sydecar | LPs in SPVs run on Sydecar | No LP fee listed | SPVs from $4,500, paid by the deal lead |
For context, Carta's own Launch plan is free for startups with under 25 stakeholders and less than $1M raised. Paid plans apply after that or when you need a 409A valuation, and we could not find current paid plan prices on Carta's public pages. See Raziel vs Carta for the full side-by-side.
For founders: replacing Carta as your cap table
Carta issues shares and options, runs SAFE and priced financings, and handles 409A valuations and compliance. A replacement has to do the same legal job.
Cake Equity: low cost with paperwork included
Cake Equity issues SAFEs, convertible notes and option grants with e-signing. Its free plan covers up to 5 stakeholders, Build is $1,000/year with 25 stakeholders included, and Team is $2,750/year with 40 stakeholders and two 409A valuations a year. On other annual plans a 409A is a $1,500/year add-on (Cake pricing). Cake also includes a data room and holds ISO 27001 certification (Cake security).
Eqvista: cap table and valuations from one provider
Eqvista pairs a cap table with an in-house valuation team. The cap table is free under 20 stakeholders, including a data room, Premium is $2 per stakeholder per month, and the 409A plus Premium bundle runs from $990/year pre-revenue to $2,590/year at Series A (Eqvista pricing). It handles filings such as Rule 701, Form 3921 and 83(b) elections, and is registered with the SEC as a transfer agent (Eqvista).
Ledgy: built for later-stage and international teams
Ledgy suits growing companies, especially in Europe and the UK, that need share plan automation and multi-jurisdiction reporting. Launch is free, Scale starts at €5k/year with 70+ HRIS integrations, and Enterprise starts at €18k/year (Ledgy pricing). It holds ISO 27001 certification (Ledgy ISO 27001) and SOC 1 and SOC 2 Type II reports (Ledgy security).
For investors: if you only used Carta to see your holdings
Many angels got a Carta login only because a portfolio company runs its cap table there. On Carta, an investor's portfolio fills in from securities issued through Carta, and adding non-Carta companies is documented for fund administration clients (Carta support). If your other positions live elsewhere, you need a tracker that sits above every platform.
Raziel: one portfolio across every platform
Raziel's Investor plan tracks any startup, SPV, fund position or entity, whatever platform the company uses. You add positions, import a spreadsheet, or forward SAFEs and fund statements for AI document import. Record a new round once and every position in that company is re-marked, with MOIC, IRR, TVPI and DPI calculated from your cash flows.
AngelList: zero entry for AngelList deals
AngelList's LP dashboard shows positions held through its syndicates, SPVs and funds, with multiple and IRR net of fees and carry and valuations included after a 90-day delay (AngelList IRR help). K-1s come at no extra cost to the LP (AngelList K-1 help).
Seraf: a long-standing angel tracker
Seraf is web-based portfolio software for angels, angel groups and early-stage funds. Advanced is $600/year and Professional, which adds fund investments and entity accounts, is $800/year, with a 30-day trial (Seraf pricing). It reports exit multiples and IRR (Seraf returns analytics).
Sydecar: the dashboard for Sydecar SPVs
Sydecar forms and administers SPVs for deal leads, from 2% of capital raised (minimum $2,500) plus a $2,000 regulatory fee (Sydecar pricing). LPs in those vehicles get a dashboard for commitments and distributions, with K-1s in a Tax Center (Sydecar tax documents).
Where Raziel fits
Raziel is not an equity system of record. It does not issue securities, run 409A valuations or file compliance forms, and it has no data room. If your company needs those, use Carta or one of the founder options above. Raziel's security work is also earlier: SOC 2 Type II and ISO 27001 are in progress, not certified, while Carta (SOC 1 and SOC 2 Type 2 reports), Cake and Ledgy list reports or certifications today.
Where Raziel helps founders is the work around the cap table: a Kanban fundraising pipeline with target checks, investor updates with open and click tracking, and a cap table view. The Founder plan is free through your first 100 contacts, then $29/month. For investors, it is the portfolio layer described above. Public equities, real estate and crypto are coming soon, not live. Full plans are on the pricing page.
How to choose
- Do you need a legal cap table? If yes, compare Carta Launch, Cake, Eqvista and Ledgy on stakeholder count and 409A needs.
- Are you an investor with holdings on several platforms? Keep each platform's dashboard for documents and add a tracker such as Raziel or Seraf for the whole picture.
- Are all your deals on one platform? AngelList's or Sydecar's own dashboard may be enough.
Moving positions out of Carta? Our Carta to Raziel guide walks through it, and cap table vs portfolio tracker explains why the two jobs differ.
FAQ
What is the cheapest Carta alternative for a cap table?
For very small cap tables, the free tiers: Eqvista under 20 stakeholders and Cake Equity up to 5. Above those, Cake Build at $1,000/year and Eqvista Premium at $2 per stakeholder per month are the lowest published prices here.
Can Raziel replace Carta?
Not as a company's legal cap table. Raziel does not issue securities or provide 409As. It can replace Carta as the place an investor views holdings, since it tracks companies whether or not they use Carta.
