Allocate vs Keel
Allocate
allocate.co
Keel
keelmanager.comSide by side
| Figure | Allocate | Keel |
|---|---|---|
| Price from | — | Free |
| Free plan | — | Yes |
| Free trial | — | Yes |
| Open source | — | — |
| Web | Yes | Yes |
| API | — | Yes |
| Plans published | 1 | 7 |
| Spec score · Fund Administration Software | 7.6 (#12) | 8.5 (#3) |
| Integrations | Allocate says it integrates with major third-party wealth reporting systems but does not name them on the page opened. | Plaid is used as the optional bank-data aggregation provider for connected-account reconciliation. |
| Security controls | Allocate says it uses role-based access controls, encrypts data at rest with AES-256-GCM and in transit with TLS 1.2/1.3, and enforces MFA when available. | Keel states that it uses TLS, AES-256-GCM application-layer encryption for sensitive fields, mandatory MFA, role-based access, tenant isolation and bounded sessions. |
| Support | The contact page says a team member responds to inquiries and offers a 30-minute introductory call followed by a platform walkthrough tailored to the firm. | The site invites users to email [email protected] for security diligence questions and says a demo can be booked at [email protected]. |
Plans
Keel
- FreeFree
- FreeFree
- Starter£350 a month
- Single Fund£799 a month
- Multi-Fund£1,999 a month
- EnterprisePriced on request
- Enterprise$6,000 a month
In their own words
Keel
Keel is fund administration software for private equity, venture capital, family offices, search funds, and independent sponsors. Its workflows cover investor onboarding, commitments, capital calls, bank reconciliation, distributions, performance reporting, and tax tasks. For fund economics, it supports European and American distribution waterfalls, GP catch-up, carried interest, preferred returns, hurdles, and recallable capital. Investors can use a branded portal for capital-call notices, real-time account balances, statements, tax documents, and fund analytics. Its AI Suite reviews emailed capital-call notices, deal materials, and portfolio updates, but a manager must confirm before it creates or issues actions. Keel supports USD, EUR, GBP, and JPY fund currencies, plus K-1 and foreign-investor tax forms including W-8, 1042-S, and K-3. The Free tier costs nothing and covers one entity and up to 10 active investors. Listed paid plans start at £265 a month; the pricing note also says paid plans start at $500/mo. Keel administers single-entity funds today; multi-entity and master-feeder structures are coming soon.