Pulley is a strong, US-focused cap table platform — if you need 409A valuations and US compliance filings, it's built for that. Equafy is built for a different moment: the early, pre-institutional stage where equity should track real contributions, on a flat price that doesn't punish you for adding teammates. This comparison is honest about where each one wins.
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Pulley is excellent at US compliance. Its Growth plan includes 409A valuations, and it handles the filings US startups need — Rule 701, Form 3921 and the rest. If you're a US C-corp heading toward priced rounds and option grants at scale, that compliance depth is a real advantage Equafy does not try to match.
Pulley, like other traditional cap table tools, is static. Equafy adds a dynamic equity engine — ownership earned from logged contributions — and a one-click freeze that converts the dynamic split into a fixed, investor-ready cap table. It's the model that fits the messy pre-funding phase Pulley isn't designed for.
The differentiator
Equafy is the only one of the two with dynamic equity and a dynamic-to-static freeze. Pulley's strength is US compliance, not dynamic allocation.
Pulley has no free tier: its Startup plan is $1,200/year (25 stakeholders) and Growth is $3,500/year (40 stakeholders, with 409A). Equafy is $19.99/month or $199.99/year per project with unlimited members — an order of magnitude cheaper for a small team that just wants a cap table and dynamic equity.
Pulley leads on US compliance; Equafy leads on dynamic equity, the freeze, and price. Pick based on the stage you're in.
| Equafy | Pulley | |
|---|---|---|
| Dynamic equity (by contribution) | Yes | No |
| Freeze dynamic → static | Yes | No |
| US 409A valuations | No | Yes (Growth) |
| Rule 701 / Form 3921 filings | No | Yes |
| Free tier | — | No |
| Pricing model | Flat per project | Per company tier |
| Members included | Unlimited | 25 (Startup) / 40 (Growth) |
| Price | $19.99/mo · $199.99/yr | $1,200/yr · $3,500/yr |
Pricing approximate as of 2026 — check each provider's site for current rates.
For early-stage teams that want dynamic equity, a freeze to a fixed cap table, and low flat pricing, yes. If your priority is US 409A valuations and compliance filings, Pulley is purpose-built for that and Equafy doesn't offer it.
No. Equafy focuses on dynamic equity and cap-table management for the early stage. US 409A valuations and filings like Rule 701 and Form 3921 are where Pulley (and Carta) lead.
Pulley starts at $1,200/year (25 stakeholders) with no free tier. Equafy is $199.99/year per project with unlimited members — roughly a sixth of the cost for a small team, before Pulley's per-tier stakeholder caps come into play.
Equafy gives you dynamic equity, a one-click freeze to a fixed cap table, and flat per-project pricing with unlimited members.
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