Cap table management built for growing startups
Ledgy is a deep, niche-capable equity platform for European startups, but its quoted pricing and lack of a verified discount limit its deal strength and flexibility.
VERIFIED DEAL MECHANIC is 'verified deal' but SAVINGS CLAIM is 'none', DISCOUNT TYPE is 'verified_pricing' with no coupon. Editorial states pricing is quoted and a demo/trial is available, but no verified discount or credits are claimed. This is effectively an access-only demo/trial offer, capped at 3.
Editorial summary states pricing is quoted, growth-stage deployments begin in low-three-figure monthly range and scale with stakeholder/entity count. It acknowledges depth comes at a price and is a premium if European tax depth is not needed. Compared to category norm (Carta, Cake Equity, Vestd), Ledgy is priced for its niche depth, fitting the 'at the category norm' anchor for its target segment.
Editorial details: handles country-specific tax and statutory complexity (VSOPs, EMI, BSPCE, SAR), cap-table operations, round modelling, SAFE/CLN conversions, secondary transactions, ESOP grants, employee equity portals, board-ready reporting, exit-waterfall modelling, accounting integrations, multi-entity consolidated views, AI features for grant drafting. Described as 'European tax depth' and 'default in European venture circles.' Broad with few gaps for its target market.
Editorial mentions 'import or build the cap table, add stakeholders and configure share classes.' Pricing is quoted and not self-serve, implying a sales/demo process. No evidence of instant setup; typical deployment likely involves configuration and onboarding. Aligns with 'days to value' anchor.
Live site shows logos of trusted companies (Revolut, Personio, etc.). Editorial mentions it is 'Swiss-headquartered' and 'default in European venture circles.' No specific uptime/SLA, support, or review consensus data provided. Evidence is limited but generally positive signals, scoring conservatively at 5.
Pricing is quoted and not published; typical enterprise SaaS quoting implies custom contracts, likely with annual commitments. Editorial does not mention cancellation terms or data export features. Inferred 'annual lock-in/awkward export' due to custom enterprise pricing model and lack of evidence on flexibility.
Ledgy is a Swiss-headquartered cap-table and equity-management platform that has become a default in European venture circles. We picked it because the platform handles the country-specific tax and statutory complexity that US-first competitors gloss over — VSOPs in Germany, EMI in the UK, BSPCE in France, Dutch SAR — alongside the standard cap-table operations. The trade-off is that the depth comes at a price: Ledgy is quoted, not self-serve, and most growth-stage deployments sit in the low-three-figure monthly range upwards.
You import or build the cap table, add stakeholders and configure share classes. From there, Ledgy handles round modelling, SAFE and CLN conversions, secondary transactions and ESOP / VSOP / EMI / BSPCE grants with country-specific vesting and tax handling. Employee equity portals show grants, vesting progress and tax events in the local language.
Reporting is one of the platform's strongest areas: board-ready capitalisation reports, fully diluted views with multiple scenarios, exit-waterfall modelling and accounting integrations (NetSuite, Sage, Xero). For multi-entity groups — common in European startups with parent and subsidiary structures — Ledgy supports consolidated views and inter-entity ownership chains. AI features now help with grant document drafting and shareholder communications.
Pricing is quoted, not published. From conversations with similar platforms, growth-stage deployments typically begin in the low-three-figure monthly range and scale with stakeholder count, entity count and feature need (valuations, advanced reporting, AI). Independent valuation reports are sometimes bundled and sometimes priced separately depending on jurisdiction.
The honest cost watch: Ledgy's value comes from European tax and statutory depth — VSOP, EMI, BSPCE, SAR — that simpler tools handle clumsily. If you do not need that depth, you are paying a premium for unused capability.
| Tool | Strength | Starter price | Best for |
|---|---|---|---|
| Ledgy | European tax depth | Quoted | EU multi-entity startups |
| Carta | US VC ecosystem depth | From $0 / quoted | Delaware C-corps |
| Cake Equity | AU, UK, US coverage | Free / from $99/mo | Antipodean and global |
| Capdesk (now Vestd) | UK EMI focus | From £50/mo | UK-only SMEs |
Verified deal
Ledgy is quote-only, so a demo is the way in. Bring your existing cap table, ESOP details and the countries you have employees in — that is what shapes the price.
See the Ledgy offerFounders closing seed rounds use Ledgy to document founder shares, SAFE conversions, and early employee option grants in a format investors recognize. The platform generates the cap table snapshot needed for Series A due diligence without hiring a cap table specialist.
Finance and HR teams use Ledgy to issue option grants, track vesting cliffs and schedules, and run option pool forecasts as headcount grows. The system flags when the pool is nearly depleted and calculates dilution from new grants.
CFOs running Series B+ fundraising use Ledgy to generate clean cap tables, waterfall models, and shareholder registers for investor review. Ledgy's versioning and audit trail reduce the back-and-forth with lawyers and VCs over cap table accuracy.
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