Ledgy vs Tenacap

Ledgy manages equity and executive compensation for companies from incorporation through post-IPO, serving finance, legal, and people teams at private and public companies. Its tools cover cap tables, share plans, grants, employee communications, compliance, financial reporting, trading and settlement, and executive compensation. The platform automates country-specific compliance and global mobility reports, custom vesting, and IFRS 2 expensing. More than 70 HRIS integrations support synchronized data and grant workflows; automation also covers bulk document creation and signing, exercising, and offboarding. Employees can view grants, vesting schedules, and award updates, and exercise or trade shares. Ledgy states it is ISO 27001:2022 certified and lists controls including TLS 1.3 encryption, SAML SSO with SCIM provisioning, role-based access, and GDPR compliance. Its GraphQL API uses OAuth 2.0 service accounts and is limited to 20 requests every 5 seconds per company. The free Launch plan covers up to 50 stakeholders. Essentials starts at €3k/year, Scale and Advanced at €5k/year, and Enterprise at €18k/year; Public has custom pricing.

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.