Capmatter vs Tenacap
Capmatter
capmatter.comTenacap
tenacap.comSide by side
| Figure | Capmatter | Tenacap |
|---|---|---|
| Price from | ₹2,999/mo | $39/mo |
| Free plan | Yes | Yes |
| Free trial | — | — |
| Open source | — | — |
| Web | Yes | Yes |
| Plans published | 3 | 3 |
| Spec score · Cap Table Management Software | 8.2 (#6) | 7.4 (#16) |
| Spec score · Startup Founder Tools | 8.3 (#6) | 7.5 (#10) |
| Documents | Users can generate cap table, ESOP, and board resolution PDFs and share watermarked, access-logged due diligence rooms. | Tenacap generates equity and board documents, supports native e-signature, and provides a sealed PDF with a completion certificate. |
| Integrations | The enterprise page says integrations with existing systems are scoped per engagement; it does not list out-of-the-box third-party integrations. | The maker lists Carta and Pulley as cap table import sources and says third-party services such as partner 409A valuations are pass-through priced. |
| Product | Capmatter provides cap table, shareholder, funding round, ESOP, and dilution modeling software for Indian startups. | Tenacap is a cap table platform for managing a company’s equity from incorporation through priced rounds. |
| Security | Capmatter states that it uses database-level row security, an append-only cap table ledger, server-side authorization, and HTTPS/TLS encryption in transit. | The maker says traffic uses TLS with HSTS, sensitive fields are encrypted with AES-256-GCM, and passwords are hashed with Argon2id. |
| Support | Enterprise services can include implementation, onboarding, workflow configuration, and ongoing equity operations support. | Tenacap’s help center offers step-by-step guides without requiring a login. |
Plans
In their own words
Capmatter
Capmatter is browser-based equity management software for Indian startups and private limited companies. Its cap table records shareholders, share classes, voting rights, and liquidation preferences in an immutable ledger with an audit trail. For funding rounds, users can model pre- and post-money valuations, allocations, and dilution, then generate term sheet summaries. Scenario planning lets teams compare options and accept a chosen scenario into the live cap table. ESOP tools provide configurable vesting schedules and per-employee progress, with a default four-year schedule and one-year cliff. Its valuation calculator uses revenue and EBITDA multiples as well as comparable Indian deal analysis. The service derives a statutory calendar from company records for ROC and Companies Act 2013 obligations. Users can generate cap table, ESOP, and board-resolution PDFs, and import shareholder, share-class, ESOP-grant, and ledger data from Excel or CSV with row validation. A free plan is available; Pro costs ₹2,999 per month plus 18% GST. Capmatter says its outputs are informational and not professional advice.
Tenacap
Tenacap is a web-based cap table platform for managing company equity from incorporation through priced rounds. It supports SAFEs, convertible notes, option plans, grants, vesting, exercises, and restricted stock. Companies can model priced rounds, convert outstanding SAFEs and notes, and calculate exit waterfalls. Imports can come from Carta, Pulley, Tenacap’s workbook, or a spreadsheet; exports include CSV, open-schema JSON, and a complete archive. The platform generates equity and board documents, supports native e-signature, and provides a sealed PDF with a completion certificate. Cap table changes go into an append-only ledger with cryptographic chaining, which Tenacap describes as tamper-evident. The free Starter tier includes unlimited stakeholders, one saved scenario, and CSV and JSON export. Traction is listed at $39/mo or $399/yr, while Growth is $99/mo or $999/yr. Tenacap says beta is open and customers are not billed during beta; listed tier prices take effect at general availability. Its V1 focuses on US Delaware C-corps, and international entities are not on its V1 or V2 roadmap.