Capmatter

Capmatter is a browser-based equity and compliance service for Indian startups and private limited companies. It suits teams that want to manage ownership, fundraising scenarios, ESOPs, and statutory obligations together. Its breadth is useful, but Pro pricing and the non-advisory nature of its outputs matter.

Overview

Capmatter brings ownership records and fundraising work into a single workflow: teams can track shareholders and share classes, model rounds and dilution, manage employee vesting, and follow obligations tied to ROC and the Companies Act 2013. It is designed for Indian company structures rather than presented as a general-purpose global equity platform.

An immutable cap table ledger with an audit trail gives teams a durable record of ownership changes. The trade-off is that the software’s calculations and documents should not be treated as professional advice: Capmatter says its outputs are informational, not legal, financial, tax, accounting, investment, or valuation advice.

Key features

Ownership and fundraising

The cap table tracks shareholders, share classes, voting rights, and liquidation preferences. For financing work, teams can model pre- and post-money valuations, dilution, and round allocations, then generate term sheet summaries. Scenario planning lets users compare possible rounds before accepting one into the live cap table, a useful separation between exploration and an actual ownership record.

ESOPs and valuation

ESOP management includes customizable vesting schedules, employee-level progress, and a default four-year schedule with a one-year cliff. That default provides a starting point, while customization leaves room for different grant terms. A valuation calculator uses revenue multiples, EBITDA multiples, and comparable Indian deal analysis; it can inform planning, but it is not a substitute for valuation advice.

Compliance, documents, and imports

Company records feed a statutory calendar that tracks ROC and Companies Act 2013 obligations. The service can generate cap table, ESOP, and board resolution PDFs, and its due diligence rooms support watermarked sharing with access logs. Excel and CSV imports cover shareholders, share classes, ESOP grants, and ledger events, with row validation before data is written—helpful for catching import issues before they alter records.

Capmatter says it uses database-level row security, server-side authorization, HTTPS/TLS encryption in transit, and an append-only cap table ledger. Enterprise integrations are scoped per engagement rather than offered as a stated catalogue of ready-made third-party connections. Founder Circle is a private network that requires a reviewed verification application for membership.

Pricing

The Free plan costs nothing.

Pro costs ₹2,999 per month plus 18% GST, or ₹3,538.82 total. It is the paid option for teams that need the paid features, but the monthly total is a meaningful recurring cost for an early-stage company. No cancellation fee or lock-in is stated.

Enterprise uses custom pricing, quoted individually after a written scope. The scope depends on company structure and requested implementation, integration, and support; enterprise services can include onboarding, workflow configuration, and ongoing equity operations support. That makes it the relevant route for organizations needing assistance or tailored integrations, but not a fixed-price alternative.

Platforms

Capmatter is cloud-hosted and accessed through a web browser. It is not presented as a native mobile app, so teams should expect to use the browser-based service.

Who it's for

Capmatter is best suited to Indian startups and private limited companies that want ownership records, fundraising models, ESOP administration, document generation, and statutory tracking in one service. It is less suitable for teams seeking professional legal, financial, tax, or valuation guidance from their software, or those that need a clearly defined free-plan quota before committing.

Pros and cons

Pros

• Connected equity workflows: Cap tables, funding scenarios, ESOPs, and statutory tracking sit within one product, reducing the need to separate those tasks across unrelated tools.
• Controlled changes and sharing: Scenario acceptance into the live cap table, import validation, an append-only ledger, and access-logged due diligence rooms support careful handling of ownership records and documents.
• Indian company focus: The statutory calendar targets ROC and Companies Act 2013 obligations, while valuation analysis includes comparable Indian deals.

Cons

• Pro’s full monthly charge is ₹3,538.82: GST raises the ₹2,999 monthly price, which startups should include in their budget.
• Outputs are informational, not advice: Teams still need appropriate professional advice for legal, financial, tax, accounting, investment, and valuation decisions.
• Integrations require scoping: Enterprise connections are arranged per engagement, rather than presented as out-of-the-box integrations.

Alternatives

For a wider comparison, browse Cap Table Management Software.

• Cake Equity is worth considering if mobile access matters: it offers Android, iOS, and web apps, with a free plan for five stakeholders and cap table, stock option, and SAFE note features.
• Eqvista is an alternative for teams seeking a free cap table and ESOP tier capped below 20 stakeholders, with vesting schedules, stakeholder accounts, and a data room.
• EquityList may fit a very small team that can work within a free limit of 10 stakeholders and 1,000 lifetime AI credits; it is web-based.
• Hemrock is an option for teams that want a self-hosted service, no per-seat fees, and control over infrastructure; estimated running costs are roughly $0 to $75 a month.
• Ledgy offers a free Launch tier capped at 50 stakeholders, with a flexible multi-entry cap table, equity plans and grants, simple vesting, and self-serve setup.
• Mantle is another web-based freemium option.
• Qapita Equity Management may suit companies within its free Spark limits of up to 25 stakeholders and less than $1M in funding raised, with cap table and equity plan management, scenario modelling, and a data room.
• Tenacap offers a free Starter tier with unlimited stakeholders, one saved scenario, and CSV and JSON export, which may suit teams that prioritize those limits and formats.

Verdict

Choose Capmatter if you run an Indian startup or private limited company and want cap table records, fundraising models, ESOP workflows, and statutory tracking together. Its strongest case is that connected workflow, backed by validated imports and auditable ownership records. Look elsewhere if Pro’s ₹3,538.82 monthly total is too high, if you need a known free-plan cap before adopting it, or if you expect software outputs to replace professional advice.