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Index › Equity and corporate › Cap table management › Cake Equity vs Ledgy
Cap table management · October 2026 Edition

Cake Equity vs Ledgy

Two of fourteen models named Cake Equity first on the direct prompt; zero named Ledgy. Cake Equity was named by thirteen of the fourteen models and Ledgy by thirteen and Cake Equity carries 32 labels and Ledgy 39, so the shares are not directly comparable.

Cake Equity

accepted challenger

Named in one category this edition.

Ledgy

accepted challenger

Named in two categories this edition.

First-choice share12%2%Of first choices across the direct, paraphrase, budget and scale prompts, 0 to 100.
Negative rate12%5%Negative labels as a share of the product's labels, 0 to 100.
Rank in category#4#6A position in a field of 10; printed, not drawn.
Labels3239A count; the two differ.
The two percentage rows are drawn on one 0 to 100 track, Cake Equity reading right to left. Rank and label count are printed, not drawn.Carta was named alongside these two in eleven of the fourteen direct answers. Carta vs Cake Equity · Carta vs Ledgy · Pulley vs Cake Equity

Share is the count of first choices across the direct, paraphrase, budget and scale prompts over all fourteen models, for a mid-market B2B company; rank is within the category; every quote names the model and the prompt it came from. Both figures come from the cap table management page.

By framing

How many of the fourteen models made each the first choice, per way of asking, and how many argued against it.
Cake EquityFirst choices, of fourteen modelsLedgy
Direct20
Paraphrase00
Comparative00
Budget-constrained401 against Ledgy
Scale-constrained01
Negative004 against Cake Equity · 1 against Ledgy
Bars are first choices, 0 to 14 each sideModels that argued againstA model can name both, so the two sides of a row do not sum to fourteen.

Across every category in the October 2026 Edition, Cake Equity and Ledgy were named in the same answer forty-four times, of the 86 answers naming Cake Equity and the 109 naming Ledgy. In those answers Ledgy took the first choice zero times and Cake Equity six.

Every model, every framing

The eighty-four answers behind the chart above, one cell each: where Cake Equity and Ledgy stood in it.
ModelDirectParaphraseComparativeBudget-constrainedScale-constrainedNegative
Claude Haiku 4.5
GPT-5.4 mini
Gemini 3.5 Flash
Perplexity Sonar
Grok 4.1 Fast
Mistral Small
DeepSeek V4 Flash
Llama 4 Maverick
Qwen 3.7 Flash
Kimi K2
GLM 4.7 FlashX
MiniMax M2.5
GPT-6 Luna
Muse Glimmer 30B
Cake Equity Ledgy first choice named as an alternative argued againstblank: not namedEach cell is one answer, Cake Equity on the left and Ledgy on the right.

The direct prompt

The plain question, one answer per model, grouped by where Cake Equity and Ledgy stood in it.

Cake Equity first, Ledgy an alternative

2 of 14 modelsLedgy was named in the answer but not as the choice, or not at all.
Kimi K2Cake Equity, Pulley alternatives: Eqvista, Ledgy
MiniMax M2.5Cake Equity, Qapita alternatives: Carta, Shareworks

Neither was the first choice, one was named

7 of 14 modelsThe answer put something else first and named one of the two as an alternative.
Claude Haiku 4.5Qapita alternatives: Cake Equity, Carta, Pulley
GPT-5.4 miniCarta alternatives: Eqvista, Ledgy, Shareworks
Gemini 3.5 FlashCarta alternatives: Ledgy, Mantle, Qapita
Perplexity SonarCarta alternatives: Cake Equity, Pulley, Qapita
Grok 4.1 FastCarta alternatives: Ledgy, Pulley
Mistral SmallQapita alternatives: Ledgy, Pulley
Muse Glimmer 30BCarta alternatives: Cake Equity, Ledgy, Qapita

Neither was named

5 of 14 modelsThe answer made no first choice from these two in this category.
DeepSeek V4 FlashCarta, Pulley alternatives: Shareworks
Llama 4 Maverickno first choice
Qwen 3.7 FlashCarta alternatives: Pulley, Qapita, Shareworks
GLM 4.7 FlashXCarta alternatives: Fidelity Private Shares, Pulley, Qapita
GPT-6 LunaCarta alternatives: Shareworks

Bold names in an answer are the products the judge labeled a first choice; a model naming several gives each of them that label. The full answer text for every row is in the record.

By buyer segment

The same question asked on behalf of a different buyer. Each standing is computed within its segment and they are never added together. The figures above are the mid-market standing, which is the one the category orders by.
Small business
Cake Equity leads by sixteen points.
Cake Equity16%#4 of 10
Ledgy0%#7 of 10
The full small business standing →
Mid-marketThe figures above
Cake Equity leads by ten points.
Cake Equity12%#4 of 10
Ledgy2%#6 of 10
The full mid-market standing →
Enterprise
The order flips: Ledgy leads at enterprise.
Ledgy5%#5 of 11
Cake Equity0%#11 of 11
The full enterprise standing →

What the models said about Cake Equity

Every negative label with a quote, up to three, then the highest-weighted positives, up to three. Six of eight in this category shown.

“Cake Equity was explicitly named in a 2026 analyst aggregation ("the main platforms to avoid or treat cautiously")” DeepSeek V4 Flash · negative prompt · hard negative
“Cake Equity: flagged with approximately 58% negative sentiment.” Qwen 3.7 Flash · negative prompt · hard negative
“Avoid Cake Equity for anything beyond very small teams.” GLM 4.7 FlashX · negative prompt · hard negative
“The best cap table management software for a company with a limited budget is Cake Equity, which offers a free starting point” Llama 4 Maverick · budget prompt · first choice
“On a tight budget, Cake Equity gives you a real free starting point with a clear upgrade path.” Claude Haiku 4.5 · budget prompt · first choice
“Go with Qapita or Cake Equity if: You want predictable, flat-rate pricing” MiniMax M2.5 · direct prompt · first choice

What the models said about Ledgy

Every negative label with a quote, up to three, then the highest-weighted positives, up to three. Five of six in this category shown.

“Historic data setup can take effort and some users find complex funding round modeling less intuitive” Claude Haiku 4.5 · negative prompt · soft negative
“starts at €75/month, but is often a better fit for European/international companies” GPT-5.4 mini · budget prompt · soft negative
“Shortlist 3–5: Demo Carta, Ledgy, and 1–2 others matching your location/equity needs.” Grok 4.1 Fast · scale prompt · first choice
“these international-first platforms offer superior localized tax and legal compliance automation compared to US-centric platforms” Gemini 3.5 Flash · scale prompt · alternative
“they're flagged more than leaders like Ledgy or Fidelity Private Shares ... For growth, Ledgy (EU/international)” Grok 4.1 Fast · negative prompt · alternative
Also compared

Comparisons are drawn for the top eight products in each category, each against each. The output is the models' output; nothing here is a recommendation by the index.