For most small startups, Eqvista is the default pick because its free plan covers 20 shareholders and Premium costs $2 per shareholder per month, while Cake Equity is the clearest priced alternative at $1,000 per year and Carta suits VC-backed teams. Pulley is not on this list because it announced it will cease operations on 8 December 2026, and it named Carta as its exclusive migration partner. Eqvista bundles unlimited 409A valuations for 12 months in plans from $990 per year, while Cake Equity adds a 409A valuation for $1,500 on Build and includes two per year on Team.
Shareholder management software keeps the cap table, share classes, option grants, vesting schedules and shareholder records in one place, so a funding round, a grant or an exit does not depend on a spreadsheet that only one person understands. Use the free limits first, then price the plan at the stakeholder count you expect at renewal, because most of these tools charge more as that count grows.
On this page
Best shareholder management software: comparison table
Swipe the table sideways on a phone to see every column.
| # | Name | Best for | Starting price | Free plan / trial | Link |
|---|---|---|---|---|---|
| 1 | Carta | VC-backed US startups that need the standard platform | quote only | Yes | Visit |
| 2 | Eqvista | Small startups that want a free cap table and low cost 409A valuations | $2 per shareholder/month | Yes | Visit |
| 3 | Cake Equity | Growing startups that want published prices and simple tiers | $1,000 per year | Yes | Visit |
| 4 | Qapita | Seed to IPO companies with global structures | $1,600 per year | Yes | Visit |
| 5 | EquityList | Companies with India, Singapore and US equity in one record | $1,200 per year | Yes | Visit |
| 6 | Astrella | Early-stage companies that want guided cap table setup | $1,200 per year | Free trial | Visit |
| 7 | Fidelity Private Shares | Early-stage US companies that want a data room and board tools | quote only | Yes | Visit |
| 8 | Shareworks by Morgan Stanley | Large private and public companies with complex stock plans | quote only | No | Visit |
The 8 best best shareholder management software tools, in detail
Carta
Best for: VC-backed US startups that need the standard platform
Carta is the default choice in US venture-backed equity because law firms, investors and acquirers already work with it. Launch is a real free plan, not a short trial, and it covers cap table management and electronic securities issuance for companies with up to 25 stakeholders that have raised under $1 million. Once a company crosses either limit, it moves to Build, Grow or Scale, and each plan has a price per stakeholder with a minimum annual fee.
- The trade-off is price clarity.
- Carta publishes no number for Build, Grow or Scale, so a buyer cannot compare the annual cost without a sales conversation.
- Add-ons cover 409A valuations and fund administration, and those add to the total.
- Choose Carta when your investors expect it.
Pros
- Launch is free for up to 25 stakeholders and under $1 million raised
- covers cap table, 409A valuations, fund administration and scenario modeling
Cons
- Build, Grow and Scale have no published price, so the cost is set by quote
- 409A valuation is a separate cost on higher plans
Eqvista
Best for: Small startups that want a free cap table and low cost 409A valuations
Eqvista is the value pick for a small cap table. The Freemium plan covers cap table and ESOP management, vesting schedules, stakeholder accounts and a data room for up to 20 shareholders, with up to 3 users. Premium costs $2 per shareholder per month and adds e-signing, board resolutions and voting, Rule 701, Form 3921, waterfall modeling, funding round modeling and spreadsheet import.
- The 409A bundle is the reason Eqvista stands out.
- Plans start at $990 per year for pre-revenue companies, then $1,290 per year for friends and family or angel stage, $1,990 per year for seed stage and
- Each bundle includes a Premium cap table and unlimited 409A updates for the subscription year.
- At 40 shareholders, Premium alone costs $80 per month, so model growth before you commit.
Pros
- Freemium plan is free for up to 20 shareholders
- 409A plans start at $990 per year and include unlimited 409A updates for 12 months
Cons
- Premium pricing is custom above 50 stakeholders, so larger teams lose the simple per-shareholder math
- expedited 409A processing costs $490 and up as an add-on
Cake Equity
Best for: Growing startups that want published prices and simple tiers
Cake Equity publishes its prices in full, which is rare in this category. The Free plan covers a cap table for up to 5 stakeholders, with stock options and SAFE notes included. Build costs $1,000 per year, or $375 per quarter, and covers 25 stakeholders, templated stock option grants, board approval flow, equity benchmarking, fundraising modeling and e-signing.
- Team costs $2,750 per year, is annual only, and covers 40 stakeholders plus audit-ready 409A valuations, incentive plans and the My Cake portal.
- Cake also lists add-ons at fixed prices: a 409A valuation at $1,500, QSBS at $500 per year, a special purpose vehicle at $500 per year and stock-based
- Pro is custom and adds ASC 718 reporting, Rule 701 tracking and Form 3921 reporting.
- Choose Cake when you want to see the price before a call and you expect to need a 409A valuation within the next year.
Pros
- Free plan covers up to 5 stakeholders
- Build is $1,000 per year for 25 stakeholders and Team is $2,750 per year for 40 stakeholders with two 409A valuations per year
Cons
- Free plan stops at 5 stakeholders, so a sixth stakeholder forces a subscription plan
- a 409A valuation on Build costs $1,500 as an add-on
Qapita
Best for: Seed to IPO companies with global structures
Qapita covers cap tables, stock plans and equity reporting for companies that operate across countries, including the US, India and Singapore. Spark is free for up to 25 stakeholders and under $1 million raised. Surge costs $1,600 per year for 40 stakeholders, plus $40 per additional stakeholder per year, and adds reporting, valuations, board consents and advanced compliance.
- Growth costs $3,000 per year for 50 stakeholders, plus $60 per additional stakeholder per year, and includes a 409A valuation.
- One limit: Qapita publishes both the tier price and the marginal cost of the next stakeholder, which makes renewal math easier than on quote-only riva
- Choose Qapita when your equity spans more than one country or when you want to add stakeholders without moving to a new tier.
Pros
- Spark is free for up to 25 stakeholders and under $1 million raised
- Surge is $1,600 per year for 40 stakeholders with $40 per additional stakeholder per year
Cons
- Stock splits and other corporate actions are a separate analyst-run add-on
- Enterprise is quoted, so late-stage pricing is not published
EquityList
Best for: Companies with India, Singapore and US equity in one record
EquityList is built for cross-border equity, with cap table management, equity grants, shareholder management, valuations and secretarial compliance in one record. The Free plan covers 10 stakeholders. Build costs $100 per month, or $1,200 billed annually, and covers 35 stakeholders, with each stakeholder beyond that billed at $35 per year.
- Growth costs $292 per month, or $3,500 billed annually, covers 50 stakeholders, and includes a 409A valuation when billed annually.
- The platform also covers multi-entity cap tables from Growth upward, ESOP and SAR schemes, board and shareholder consents, and valuations for India, S
- Choose EquityList when India ESOP administration sits in the same ledger as a US or Singapore entity.
Pros
- Free plan covers up to 10 stakeholders
- Build is $1,200 per year for 35 stakeholders and Growth is $3,500 per year for 50 stakeholders with a 409A valuation on annual billing
Cons
- Growth includes a 409A valuation only when billed annually, so monthly Growth buyers pay for it separately
- IFRS 2 reporting is a separately quoted add-on
Astrella
Best for: Early-stage companies that want guided cap table setup
Astrella is a cap table and equity plan platform from AST Financial, which also works with public companies, so the product is built to grow from an early cap table toward a public listing. The Early Stage plan costs $1,200 per year for up to 25 stakeholders. Emerging costs $3,200 per year and Accelerate costs $8,200 per year, with more reporting, vesting, settlement and scenario modeling as the tiers rise.
- A mobile app gives stakeholders access to their holdings.
- The trade-off is the entry point.
- Astrella lists a free trial, but it does not publish a standing free plan like the 20 or 25 stakeholder free tiers on Eqvista, Carta and Qapita.
- Choose Astrella when you want guided setup and a path to public-company equity administration from the same vendor family.
Pros
- Early Stage plan is $1,200 per year for up to 25 stakeholders
- Emerging plan is $3,200 per year and Accelerate is $8,200 per year
Cons
- No standing free plan is published, so a team that wants a free tier must look elsewhere
- higher tiers are needed for public equity features
How we chose
We included only platforms that manage shareholder records, cap tables and equity grants, with an official homepage. Prices and plan limits come from official vendor pricing pages opened on 12 November 2026, except Astrella, whose $1,200 per year Early Stage price comes from a vendor-supplied listing. We did not test any tool hands-on. Where a vendor published no price, we wrote quote only. Pulley was left out because it announced it will cease operations on 8 December 2026. The unique angle is the 409A split: Eqvista bundles unlimited 409A valuations for 12 months from $990 per year, while most rivals charge $1,500 per valuation as an add-on.
Which system fits your team size and budget
| Situation | Pick | First cost to budget |
|---|---|---|
| 20 shareholders or fewer, no 409A due yet | Eqvista Freemium | $0, then $2 per shareholder per month on Premium |
| 5 stakeholders, published price wanted | Cake Equity Free, then Build | $0, then $1,000 per year for 25 stakeholders |
| 25 stakeholders, under $1 million raised | Carta Launch, Qapita Spark or Fidelity Launch | $0 on any of the three free plans |
| 35 stakeholders, cross-border equity | EquityList Build | $1,200 per year for 35 stakeholders |
| 40 stakeholders, 409A needed | Cake Equity Team or Qapita Growth | $2,750 per year on Cake Team, $3,000 per year on Qapita Growth |
| Large private or public company, ESPP included | Shareworks by Morgan Stanley | Quote only, with per-participant and implementation fees to confirm |
Frequently asked questions
What is the cheapest shareholder management software for a small startup?
Eqvista is the cheapest path for a small startup, because its Freemium plan is free for up to 20 shareholders and Premium costs $2 per shareholder per month after that. At 40 shareholders Premium costs $80 per month. Cake Equity is the next clear option, with a free plan to 5 stakeholders and Build at $1,000 per year for 25 stakeholders.
Which shareholder management software is best for a VC-backed startup?
Carta is the best fit for a VC-backed US startup that expects diligence from law firms and investors who already use the platform, because Launch is free to 25 stakeholders and under $1 million raised and the platform covers 409A valuations, fund administration and scenario modeling. Build, Grow and Scale are quote only, so get the quote before you cross the free limit.
How much does shareholder management software cost?
Costs range from $0 on a free plan to $1,000 per year for Cake Equity Build, $1,200 per year for EquityList Build and Astrella Early Stage, $1,600 per year for Qapita Surge and $2 per shareholder per month for Eqvista Premium. Carta, Fidelity Private Shares and Shareworks publish no subscription price, so their cost is quote only. Add a 409A valuation, because it costs $1,500 on Cake Build or is bundled from $990 per year at Eqvista.
Which is best for companies with shareholders in several countries?
Qapita is the best pick for companies with shareholders in several countries, because it covers cap tables, stock plans and reporting across the US, India and Singapore, with Surge at $1,600 per year for 40 stakeholders. EquityList is the closest alternative, with India, Singapore and US valuations in one record and Build at $1,200 per year.
Do I need a 409A valuation with shareholder management software?
You need a 409A valuation before you grant stock options at a defensible strike price, and most tools treat it as a separate purchase. Eqvista bundles unlimited 409A valuations for 12 months from $990 per year, Cake Equity includes two per year on Team at $2,750 per year, and Qapita includes one from Growth at $3,000 per year.
Can I start free and upgrade later?
Yes. Carta Launch, Qapita Spark and Fidelity Launch are free to 25 stakeholders for companies that raised under $1 million, Eqvista is free to 20 shareholders, EquityList is free to 10 stakeholders and Cake Equity is free to 5 stakeholders. Astrella offers a free trial instead of a standing free plan, and Shareworks has no free plan.
Sources
- https://www.carta.com/
- https://carta.com/uk/en/plans/equity-management/europe/
- https://eqvista.com/
- https://eqvista.com/pricing/
- https://www.cakeequity.com/
- https://www.cakeequity.com/pricing
- https://www.qapita.com/
- https://www.qapita.com/blog/best-cap-table-management-software
- https://www.equitylist.co/
- https://www.equitylist.co/blog-post/top-5-cap-table-management-software
- https://astrella.com/
- https://www.fidelityprivateshares.com/
- https://www.fidelityprivateshares.com/private-companies/cap-table-management
- https://www.shareworks.com/
Prices and features were read on each company’s own website in November 2026. They change often, so confirm the current offer on the official site before you sign up or buy.