Carta is the incumbent in cap table management. They've been around since 2012, serve thousands of companies, and offer a wide suite of equity tools. But "wide" comes at a price. Literally.
TokenCapStack takes a different approach: institutional-grade cap table management on the blockchain, at 90% less cost. Here's how they compare.
Pricing
This is where the difference is clearest:
- Carta: $2,000-$10,000+ per year, with per-shareholder fees and feature-gated tiers
- TokenCapStack: $200 per year, all-inclusive. No setup fees, no per-shareholder charges, no feature gates.
For an early-stage company, that's savings of $1,800-$9,800+ annually. That's capital that can go toward building your product.
Core Features
Both platforms cover the essentials: cap table management, shareholder dashboards, multiple share classes, vesting schedules, and convertible instrument tracking.
Carta offers additional services like 409A valuations and fund administration, which are valuable for later-stage companies and VC funds. TokenCapStack focuses on cap table management done right, with blockchain infrastructure that Carta doesn't offer.
Technology
This is where TokenCapStack stands apart. Your cap table is tokenized on the blockchain, giving you:
- Immutable records that cannot be altered or disputed
- Transparent audit trails visible to all stakeholders
- Tokenized equity that shareholders can hold in their own wallets
- Insumer ecosystem access so shareholders can verify ownership and unlock real-world benefits
Carta stores your data in a traditional database. TokenCapStack stores it on infrastructure that Nasdaq and DTCC are actively building toward.
Who Should Choose Carta?
- Companies needing 409A valuations in-house
- VC funds requiring fund administration tools
- Late-stage companies with complex, multi-entity structures and big budgets
Who Should Choose TokenCapStack?
- Startups and growing companies that want clean cap tables without the enterprise price tag
- Founders who value blockchain-secured, immutable records
- Companies that want to position their equity for the on-chain future
- Anyone paying $2,000+ per year for what should cost $200
For a full feature-by-feature breakdown, see our comparison page.