Top Carta Competitors and Alternatives for 2025

When it comes to equity management, you know the stakes. Cap tables, valuations, audits—there’s no room for error. That’s why sharp CFOs and visionary founders are increasingly looking beyond Carta.

Equity management has grown more complex, and simple spreadsheets can get messy and disorganized. You need tools that reduce friction with smooth functionality, meaning faster onboarding, better accuracy, stronger visibility, and clear paths when you’re stuck. You also want to trust the people behind the product. Because when support falls short, so does the tool.

Pulley and other equity management software have stepped in. Each offers a different approach. Some are stronger with automation, while others support global teams. However, they all focus on transparency and helping you get equity right—without extra noise.

Ready to explore options beyond Carta? We’ll dive into some of the top players and uncover what makes Pulley a standout choice. You’ll also get actionable strategies to enhance your equity management, so you can operate with speed, precision, and trust with your team and investors.

Why compare Carta alternatives?

CFOs and founders are asking tough questions about Carta, and for good reason. Your job managing equity hasn’t changed. You still need clean cap table management, clear valuation data, and support that keeps up with fast-moving equity plans without incurring legal fees. But Carta may not quite meet your growing needs anymore. Here’s why teams are taking a hard look at Carta competitors:

• Slow or limited support: Whether you’re issuing option grants, preparing a 409A valuation ahead of an audit, or finalizing stakeholder updates for a financing round, timely support isn’t a nice-to-have—it’s essential. Some teams using Carta report slow or inconsistent support, which can delay filings, lead to missed opportunities or compliance risks, and add friction to already high-stakes moments.

• Reliable, audit-ready reporting: When your company needs a new 409A valuation or your board of directors asks for updates, reports, or explanations about the company’s equity, ownership, or fundraising plans, you can’t stall. Reliable data and reports matter more as stakes grow.

• Complicated interface: Carta’s dashboard can feel bloated, and simple tasks may take too long. When you’re juggling equity, fundraising, hiring, and compliance, your tool should make it quick and easy to accomplish your tasks—not slow you down.

• Lack of trust: Carta’s credibility took a public hit. Axios reported allegations of unauthorized use of confidential data, raising questions about the platform’s trustworthiness and neutrality.

• Cost concerns: Many startups feel the pricing no longer reflects the value. As your team scales, so do Carta’s fees, with little added benefit. Even on the free plan, you may face rising costs—some companies pay lawyers to navigate complex Carta workflows.

• One-size-fits-all approach: Startups with global teams, advanced equity plans, or hybrid funding models need more flexibility than Carta’s software provides.

Let’s break down the top Carta competitors and alternatives, including what makes them worth a closer look.

Top 8 Carta competitors and alternatives

1. Pulley

Pulley gives you the tools to manage equity clearly and accurately—without extra steps or confusion. You get a clean cap table, built-in 409A valuations, and features that help you stay compliant as you scale. As your equity plans expand or your company raises another funding round, Pulley lets you model different outcomes in real time. You can see what changes before you act.

If you’re running your first option grant or preparing for an audit, Pulley’s support team is steady and works with you. It’s not just software—it’s a system that grows with you. Pricing is based on the number of stakeholders, and if you’re moving from Carta, Pulley’s team makes the switch easy with a guided setup and full data transfer.

2. Shareworks by Morgan Stanley

Shareworks by Morgan Stanley supports enterprises with useful tools for equity issuance, tax reporting, and compliance. The software was intended for large multinational public companies but was then repurposed as a solution for private companies. Pricing is usage-based, but specific rates are not publicly disclosed. Its global reach and Morgan Stanley backing make it a strong choice if you’re looking for enterprise-grade solutions. However, be prepared for steep learning curves, extended onboarding, and limited features and support.

3. Ledgy

Ledgy is a cap table and equity management platform designed primarily for European startups and scale-ups. It offers cap table and equity management, multi-currency support, and real-time waterfall modeling designed for growth-stage companies. Ledgy’s platform is typically priced per user and scales with usage, though full details are hard to find without calling customer service.

4. Cake Equity

Cake Equity is based in Australia and offers annual or monthly pricing based on the number of users. Its services primarily focus on Australian and United Kingdom startups and offer niche support to companies abroad. Cake’s scaling capabilities are limited, but its built-in legal templates—including offer letters, plan rules, and resolutions—streamline share issuance.

The platform’s contract engine enables quick setup and digital signing of equity compensation plans. You can also automate share certificates and manage equity transactions with ease.

5. EquityList

EquityList tracks ownership, supports global share issuance, and helps you follow compliance laws as your business grows. It fits early-stage startups and has transparent pricing—offering yearly plans per stakeholder, plus a free tier for small teams that raise under $1 million. You can manage equity, grants, and compliance from one place.

6. Eqvista

Eqvista provides a user-friendly platform for managing cap tables across all startup stages. It offers a freemium plan for up to 20 shareholders, and monthly paid plans are priced per shareholder. 

The platform offers a suite of advanced features, including 409A valuations, waterfall modeling, and electronic share issuance, to help streamline your equity management.

Eqvista also provides guidance on equity issuance in various jurisdictions. However, companies with international needs should confirm specific compliance support directly with the platform.

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7. Certent

Certent Equity Management helps companies stay compliant with ASC 718 and FASB requirements, automating financial reporting and tax forms. It also integrates with payroll and HR systems to streamline equity administration. Certent is subscription-based, but you’ll need to contact the company for pricing.

8. Gust

Gust offers a free cap table management tool with options to upgrade to yearly paid plans with additional features. The platform supports early-stage fundraising with tools for SAFEs, Convertible Notes, and cap table modeling. Gust’s community features connect startups to investors and offer educational resources for entrepreneurs.

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How is Pulley different from Carta?

Pulley stands apart with an intuitive approach, strong modeling, and comprehensive cap table management. While Carta leans on legacy systems and is built for law firms, Pulley focuses on flexibility and transparency, which makes it easier to manage equity for your growing company. 

Pulley simplifies cap table management for early founders and growth-stage CFOs, making it a valuable decision-making tool rather than a chore. In contrast, users often find Carta's system clunky, hard to navigate, and slow to update. Onboarding with Carta also feels like a handoff instead of a partnership.

Pulley’s equity management solution works well for teams who need clean data, instant scenario modeling, and customizable, audit-ready reports. Stakeholders can understand their equity without a call to legal. Plus, the dashboard shows ownership by class, vesting, and funding round. You also get modeling tools that let you test dilution before you issue equity or raise capital. 

For many private companies, switching systems feels risky. But Pulley alleviates that fear. Our migration guide walks you through the steps from data export to full import and verification. You can also experience Pulley’s capabilities firsthand with our free trial. 

To make things even easier, Pulley maps records from Carta’s system, flags errors, and cleans duplicate entries. Historical records carry over seamlessly, which is essential for CFOs managing compliance, ASC 718 reporting, and board updates. Pulley’s support team includes equity experts—not just customer reps—so you get live help from people who understand equity.

Pulley helps you stay compliant even as you scale. You can manage 409A valuations, 83(b) elections, Form 3921, and Rule 701 without worry. Pulley also supports your board approvals and signed legal agreements. Unlike Carta, Pulley’s built-in legal workflows keep your information clean and accessible as your company scales.

The platform scales as you grow, from SAFEs to Series C and beyond. Our tools help teams explain equity to employees and investors in plain language. Pulley also supports decision-making across finance, legal, and HR—not just equity administration.

Pulley’s tools let stakeholders run what-if models, track employee equity, and manage approvals without needing outside help, saving time and resources. It also reduces errors and helps you meet audit deadlines. By contrast, users find that Carta’s workflows sometimes get in their way. They report dropped data, unclear ownership summaries, and delayed customer support.

Founders and CFOs find that, when compared to Carta, Pulley offers more control with fewer steps. That matters when managing your company's equity.

Elevate your equity management

As you scale, begin hiring, raise funds, issue equity, or enter new markets, your tools should help, not hold you back. The right platform supports every step, from early-stage to exit. It tracks ownership, models dilution, handles global compliance, and keeps your stakeholders aligned—all within a user-friendly interface.

If you’re managing employee equity or leading complex equity deals, you can’t afford slow responses. Many teams say Carta’s customer service feels disconnected from real startup needs. The platform may work for some, but others find it inflexible when plans move quickly.

For many CFOs, the real question is about trust. Carta has faced public scrutiny for internal conflicts over data misuse. Pulley focuses on only equity management software, not secondary deals. That builds trust, especially for private companies that want their cap table software to serve the company rather than outside investors.

Carta also doesn’t show clear pricing up front, making it hard to plan costs. CFOs expect transparency, especially when budgeting tools that manage high-stakes data. A lack of clarity creates friction and makes it harder to justify long-term platform use.

Finding the right cap table software is more than picking features. It’s about working with a platform that understands how equity fits into your growth—one that helps you issue shares, run 409A valuations, and manage compliance in the US or abroad. You need a platform that offers support when you’re in the middle of a funding raise or need to act fast with investor funds.

See why companies, whether they're just starting out or gearing up for their IPO, are choosing Pulley over Carta. Try Pulley yourself with our two-week free trial and experience the difference firsthand.