# Pulley 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 Pulley first on the direct prompt; zero named Ledgy. Page: https://finance-ai-index.com/corporate/cap-table-management/pulley-vs-ledgy/

| | First-choice share | Rank | Negative rate | Labels | Models naming it |
|---|---|---|---|---|---|
| Pulley | 18% | #2 of 10 | 39% | 66 | 14 of 14 |
| Ledgy | 2% | #6 of 10 | 5% | 39 | 13 of 14 |

## The direct prompt, model by model

- DeepSeek V4 Flash: pulley first (first choices: Carta, Pulley) (alternatives: Shareworks)
- Kimi K2: pulley first (first choices: Cake Equity, Pulley) (alternatives: Eqvista, Ledgy)
- 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)
- Qwen 3.7 Flash: neither first, one named (first choices: Carta) (alternatives: Pulley, Qapita, Shareworks)
- GLM 4.7 FlashX: neither first, one named (first choices: Carta) (alternatives: Fidelity Private Shares, Pulley, Qapita)
- Muse Glimmer 30B: neither first, one named (first choices: Carta) (alternatives: Cake Equity, Ledgy, Qapita)
- Llama 4 Maverick: neither named
- MiniMax M2.5: neither named (first choices: Cake Equity, Qapita) (alternatives: Carta, Shareworks)
- GPT-6 Luna: neither named (first choices: Carta) (alternatives: Shareworks)

## What the models said about Pulley

- "Pulley is closing - The platform announced it will cease operations on December 8, 2026 ... If you're considering Pulley, you'll want to evaluate Carta or other alternatives." (MiniMax M2.5, comparative prompt, hard negative)
- "Pulley — caution right now because it announced it is shutting down, with final day of operations/services on December 8, 2026." (GPT-5.4 mini, negative prompt, hard negative)
- "Pulley — avoid for a new setup; migrate if you're already a customer. Pulley has announced it will end operations on December 8, 2026." (GPT-6 Luna, negative prompt, hard negative)
- "My specific recommendation for most mid-market B2B companies: ... Pulley offers the best balance of capability, price transparency, and ease of use." (DeepSeek V4 Flash, direct prompt, first choice)
- "Pulley has emerged as the primary challenger to Carta. It is designed specifically for high-growth startups moving through multiple funding rounds." (Qwen 3.7 Flash, comparative prompt, first choice)
- "Start with Cake Equity or Pulley—both offer the right balance of features" (Kimi K2, 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.