Cap Table Software Comparison
TokenCapStack vs Carta
The dominant cap table platform — but at a steep price
TokenCapStack
$200/year
Flat pricing. No per-shareholder fees. Cancel anytime.
Carta
$2,800–$77,000+/year
Founded 2012 · San Francisco, CA
What Is Carta?
Carta is the largest cap table management platform, serving over 33,000 companies and 2,500+ VC/PE firms. It offers a comprehensive suite including cap table management, 409A valuations, fund administration, and equity plan management. However, its pricing has drawn significant criticism — especially from early-stage startups who may pay $3,000–$10,000+ per year for features they don't fully use.
Feature-by-Feature Comparison
| Feature | TokenCapStack | Carta |
|---|---|---|
| Pricing | ||
| Starting annual price | $200/year | $2,800/year (Starter) |
| Per-shareholder fees | ||
| Setup / onboarding fees | $1,000–$5,000 | |
| Annual price escalators | 5–10% per year | |
| Feature-gated tiers | ||
| Cancel anytime | Annual contract | |
| Core Features | ||
| Cap table management | ||
| Shareholder dashboards | ||
| Multiple share classes | ||
| Vesting schedules | ||
| Convertible notes & SAFEs | ||
| Scenario / exit modeling | ||
| 409A valuations | Bundled (higher tiers) | |
| Fund administration | Separate product | |
| Dividend distribution | $0.50/payment | Add-on |
| Unlimited cap table updates | Plan-dependent | |
| Technology | ||
| Blockchain-secured records | ||
| Immutable audit trail | ||
| Tokenized equity | ||
| Shareholder wallet delivery | $25/transfer | |
| Insumer ecosystem access | ||
| Support & Experience | ||
| Dedicated customer success | Premium plans only | |
| Fast onboarding | ||
| Data export | ||
| Trustpilot rating | N/A (new) | 2.0/5 (16 reviews) |
When Carta Makes Sense
- Bundled 409A valuations on higher-tier plans
- Fund administration for VC/PE firms managing $150B+ in capital
- Largest installed base — 33,000+ companies, deep ecosystem integrations
- Secondary liquidity via CartaX marketplace
- ASC 718 stock-based compensation reporting
Why Choose TokenCapStack
- 90% cost savings — $200/year vs $2,800–$77,000+
- No per-shareholder fees, no setup fees, no annual price escalators
- Blockchain-secured records with immutable audit trail
- Tokenized equity — your cap table is on-chain from day one
- Insumer ecosystem lets shareholders prove ownership for real-world benefits
- Cancel anytime — no annual contracts locking you in
- Dedicated customer success on every plan, not just premium tiers
The Bottom Line
Carta is the safe default — but you pay a premium for that. Early-stage startups rarely need 409A valuations or fund administration, which is where Carta's pricing is justified. If you want a clean, accurate cap table with blockchain infrastructure at a fraction of the cost, TokenCapStack delivers the core features you actually need for $200/year.
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All the features you need. Blockchain infrastructure Carta doesn’t offer. $200/year.