The appeal of a free cap table tool is obvious for a bootstrapped startup. But "free" in software usually means one of three things: a limited feature set, a data model for reselling your information, or a loss-leader to push you toward a paid upgrade. Understanding which applies to the tool you're considering matters more than the price tag itself.
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Most free cap table tools handle the basics: recording shareholders, tracking ownership percentages, and showing a simple table of who owns what. Some include basic vesting schedule entry. A few offer PDF export or a simple round calculator. For a company with two founders, no outside investment, and no complex equity arrangements, this may be entirely sufficient.
The features most commonly absent in free tiers are: convertible instrument modeling (SAFEs and notes), round simulation with dilution preview, dynamic equity tracking, anti-dilution calculation, audit log history, and multi-user collaboration with access controls. These are also the features that matter most at the exact moment a startup is closing a deal or bringing on a new member — when you least want to discover a limitation.
| Feature | Typical free tier | Aportia |
|---|---|---|
| Convertible modeling (SAFEs & notes) | Usually absent | Included |
| Round simulation with dilution preview | Usually absent | Included |
| Dynamic equity tracking | Usually absent | Included |
| Audit log history | Usually absent | Included |
These are also the features you need at the exact moment you're closing a deal or bringing on a new member.
One underappreciated feature of proper cap table software is the audit trail: a record of every equity change, who made it, and when. In due diligence, investors and lawyers want to understand the full history of the cap table — not just its current state. A free tool without audit logging forces you to reconstruct history from documents, which is slow and sometimes impossible. Aportia logs every action — share issuances, reversions, member changes — with timestamps and descriptions.
Due diligence asks for history, not just state
Investors and lawyers want the full history of the cap table, not a snapshot. Without audit logging you have to reconstruct it from documents — slow, and sometimes impossible.
The basic math in most tools is correct. The risk is in the features they omit — convertible modeling, vesting calculations, and audit history — where errors are most costly.
When you have convertible instruments outstanding, vesting grants to track, or are actively in fundraising conversations. These events require features that most free tools don't cover reliably.
Aportia is designed for early-stage startups with pricing that reflects the founding-stage budget. Check the pricing page for current plans and what each includes.
Aportia gives you a full-featured cap table — contributions, vesting, SAFEs, round simulation, and a complete audit trail — built for the early stage.
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