Free Cap Table Software in 2026: What the Free Plans Include

Eqvista's Freemium plan is the cleanest free option for a company with fewer than 20 stakeholders. It costs $0, needs no credit card and states its limit in plain words. Cake Equity's free plan stops at 5 stakeholders. Ledgy's free Launch plan can reach 50, but the same page also says 25. Pulley has no free plan, and its pricing page says the company shuts down on December 8, 2026.

The free plans side by side

Prices are in US dollars from each vendor's own pricing page, checked October 10, 2026. Ledgy prices in euros, so its figure stays in euros.

Read the middle column against the right one. A free plan that stops at 5 stakeholders and one that stops below 20 both cost $0. The step after the limit decides the real cost, so read the right-hand column before you move a register onto any of them.

Which free plan fits your stakeholder count

The number of people on your register decides most of the choice. Ask each vendor whether option holders and SAFE holders count toward the cap before you load them in, because a count that changes after you start can change the price.

Up to 5 stakeholders, all three free plans work. Cake's free plan is the only one with a limit that low, and it is the one that lists SAFE notes on the free tier. A pre-seed company with two founders, a few option grants and an advisor fits here, and the choice then turns on which instruments you use.

From 6 to 19 stakeholders, Cake's free plan no longer fits. Its Build plan costs $1,000 a year and includes 25 stakeholders, with $1 for each additional stakeholder above that. Eqvista's Freemium plan still works below 20. Ledgy's Launch plan also works, as long as its cap is the 25 or the 50 that the page states, since both sit above 19.

At 20 stakeholders, Eqvista's free plan ends. Its Premium Cap Table charges $2 per stakeholder a month. For 22 stakeholders, that comes to $44 a month, or $528 over 12 months at list. Eqvista's page footnotes custom pricing above 50 stakeholders. At 22 stakeholders Premium is cheaper than Cake's Build plan, but it leaves out the 409A valuation, so a company that needs one has to add it on top.

From 25 stakeholders upward, Ledgy's free plan is the only free option left in this table, and its page gives both 25 and 50. Pulley's Startup plan covers 25 stakeholders at $1,200 a year, and its Growth plan covers 40 at $3,500 a year with 409A valuations included. Cake's Team plan covers 40 at $2,750 a year. Eqvista's Premium at 40 stakeholders comes to $80 a month, or $960 over 12 months at list.

Above 50 stakeholders, Eqvista quotes custom pricing and Ledgy's Scale plan starts at €5,000 a year. A company at that size should expect to talk to sales rather than set up a free plan.

What a free plan leaves out

The 409A valuation is where the free plans stop. None of the three free plans lists one. Cake sells a 409A as a $1,500 add-on to any plan. Eqvista bundles one with its Premium Cap Table from $990 a year for a pre-revenue company, rising to $2,590 a year at Series A, and the bundle includes unlimited 409A updates and renewals. Ledgy lists a company valuation add-on beside its paid plans. Cake's Team plan includes two 409A valuations at $2,750 a year for 40 stakeholders, and Pulley's Growth plan includes 409A valuations at $3,500 a year for the first 40. For what a 409A costs across vendors, see how much a 409A valuation costs.

The free plans also differ in what they include. Eqvista's free plan leaves out SAFE agreements and e-signing, while Cake's free plan lists SAFE notes. If SAFEs are your main instrument, that gap matters more than the stakeholder cap. Eqvista's free plan includes vesting schedules and a data room, which Cake's free plan does not list. If you plan to share a data room with investors early, check that detail first. Ledgy's Launch plan lists simple vesting, equity plans and grants, stakeholder dashboards and employee scenarios on self-serve support.

Why Pulley is not on the free list

Pulley has no free plan. Its pricing page offers a Startup plan at $1,200 a year for the first 25 stakeholders and a Growth plan at $3,500 a year for the first 40. The same page says the company shuts down on December 8, 2026, and points readers to an FAQ and to support.

Anyone with records on Pulley should export the cap table and the valuation history well before that date. Eqvista's page carries a migration offer for Pulley customers. Cake's FAQ says its transfer is free whether you move from Carta, another platform or a spreadsheet, and its Team plan lists a free basic migration. Ask both vendors what the move costs in writing before you commit.

Carta and the other names

Carta, the best-known platform in this category, is not in the table. This page prints only figures a vendor states on its own pricing page today, and we have none for Carta. Read Carta's pricing page directly before you assume it is free or paid.

Choosing by stage

Pre-seed, 5 or fewer stakeholders, mostly common stock and a few option grants. Cake's free plan and Eqvista's free plan both cost $0 here. Pick Cake if SAFE notes are your main instrument. Pick Eqvista if you want vesting schedules and a data room on the free tier, and you expect the register to pass 5 before the next round.

Seed, 6 to 19 holders, no 409A yet. Eqvista's Freemium plan is the cleanest free choice, and it stays free until the count reaches 20. Budget for the next step only when the count is close to the limit.

Seed or Series A, 20 to 25 holders. Ledgy's free plan is the cheapest route if its 25 cap holds for you. Among the paid options, Eqvista's Premium is the lowest list price at that size, at $2 per stakeholder a month, but it leaves out the 409A. Cake's Build plan costs $1,000 a year for 25 stakeholders, and a 409A added to it costs $1,500 on top.

A round with a 409A due. Budget the 409A as its own line. Among the priced options here, Eqvista's pre-revenue bundle at $990 a year is the lowest route to a 409A, and Cake's add-on costs $1,500 on top of a plan. For the ledger side of the same budget, see NetSuite pricing.

How we checked the limits

We read each vendor's pricing page on October 10, 2026: Cake Equity, Eqvista, Ledgy and Pulley. Limits are quoted the way each page words them, and where a page gives two figures, we print both. Scenario totals multiply list prices, so they are our arithmetic, not vendor quotes. No third-party guide or listing was used for any price.

Toolradar data: Toolradar, the software directory we run, tracks 11,051 tools in 343 categories, as shown on October 10, 2026. Its cap table category page groups free and freemium tools separately without counting them, so every free-plan figure on this page comes from a vendor.

Frequently asked questions

What is the best free cap table software in 2026?

For fewer than 20 stakeholders, Eqvista's Freemium plan is the cleanest choice. It costs $0, needs no credit card and states its limit. For up to 5 stakeholders, Cake Equity's free plan also works and lists SAFE notes on the free tier. Ledgy's free Launch plan states the highest cap, but its page gives both 50 and 25.

Is there a free cap table plan for more than 25 stakeholders?

Only Ledgy's Launch plan might, and its own page gives both 25 and 50, so confirm the cap before you rely on it. Eqvista's free plan stops below 20, and Cake's stops at 5. Past the free cap, Ledgy's Scale plan starts at €5,000 a year and includes 50 or more stakeholders, priced in euros on the page.

Does a free cap table include a 409A valuation?

No free plan in this table lists one. Cake sells a 409A as a $1,500 add-on to any plan. Eqvista's bundle, with unlimited 409A updates and renewals, starts at $990 a year for a pre-revenue company.

What happens when a free plan runs out?

Cake's page does not say what happens above 5 stakeholders. Its cheapest paid plan, Build, costs $1,000 a year and covers 25. Eqvista's free plan ends below 20, and its Premium Cap Table costs $2 per stakeholder a month. Ledgy's free plan ends at its stated cap, and its Scale plan starts at €5,000 a year.

Is Pulley a free option?

No. Pulley has no free plan, and its pricing page says the company shuts down on December 8, 2026. Anyone already on Pulley should export the cap table and the valuation history well before that date.

Is Carta free?

Carta's free-plan terms are not in this table, because this page prints only figures a vendor states on its own pricing page today. Check Carta's pricing page before you assume it is free or paid.

This page is general information, not personalized financial advice, tax advice or a valuation. Confirm stakeholder limits, renewal terms and fees with each vendor in writing before you sign.

Cite this: CFOpresso, "Free Cap Table Software in 2026: What the Free Plans Include", October 2026.

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