# Cake Equity vs Ledgy: which do AI models recommend for cap table management, October 2026

Finance AI Recommendation Index, October 2026 Edition, Cap table management. Two of fourteen models named Cake Equity first on the direct prompt; zero named Ledgy. Page: https://finance-ai-index.com/corporate/cap-table-management/cake-equity-vs-ledgy/

| | First-choice share | Rank | Negative rate | Labels | Models naming it |
|---|---|---|---|---|---|
| Cake Equity | 12% | #4 of 10 | 12% | 32 | 13 of 14 |
| Ledgy | 2% | #6 of 10 | 5% | 39 | 13 of 14 |

## The direct prompt, model by model

- Kimi K2: cake equity first (first choices: Cake Equity, Pulley) (alternatives: Eqvista, Ledgy)
- MiniMax M2.5: cake equity first (first choices: Cake Equity, Qapita) (alternatives: Carta, Shareworks)
- Claude Haiku 4.5: neither first, one named (first choices: Qapita) (alternatives: Cake Equity, Carta, Pulley)
- GPT-5.4 mini: neither first, one named (first choices: Carta) (alternatives: Eqvista, Ledgy, Shareworks)
- Gemini 3.5 Flash: neither first, one named (first choices: Carta) (alternatives: Ledgy, Mantle, Qapita)
- Perplexity Sonar: neither first, one named (first choices: Carta) (alternatives: Cake Equity, Pulley, Qapita)
- Grok 4.1 Fast: neither first, one named (first choices: Carta) (alternatives: Ledgy, Pulley)
- Mistral Small: neither first, one named (first choices: Qapita) (alternatives: Ledgy, Pulley)
- Muse Glimmer 30B: neither first, one named (first choices: Carta) (alternatives: Cake Equity, Ledgy, Qapita)
- DeepSeek V4 Flash: neither named (first choices: Carta, Pulley) (alternatives: Shareworks)
- Llama 4 Maverick: neither named
- Qwen 3.7 Flash: neither named (first choices: Carta) (alternatives: Pulley, Qapita, Shareworks)
- GLM 4.7 FlashX: neither named (first choices: Carta) (alternatives: Fidelity Private Shares, Pulley, Qapita)
- GPT-6 Luna: neither named (first choices: Carta) (alternatives: Shareworks)

## What the models said about Cake Equity

- "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

- "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)

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. Comparisons are drawn for the top eight products in each category. Published under CC BY 4.0; the output is the models' output, and nothing here is a recommendation by the index.