Pulley vs Fidelity Private Shares: A Complete Comparison for Cap Table Management in 2026

Picking the right cap table management platform can make or break your startup’s equity operations. Two names keep coming up in conversations among founders: Pulley and Fidelity Private Shares. Both promise to handle your equity tracking, but they serve very different types of companies.

Pulley built its reputation helping early-stage startups manage cap tables without breaking the bank. Fidelity Private Shares, on the other hand, targets later-stage companies looking for liquidity solutions and the backing of a financial giant.

This comparison breaks down everything you need to know. We’ll look at pricing, features, user experience, and which platform fits your specific situation. By the end, you’ll have a clear picture of where your company belongs. And if neither feels right, we’ll introduce you to Altshare as a strong alternative worth considering.

What Is Cap Table Management and Why Does It Matter?

Before we dig into the Pulley versus Fidelity Private Shares debate, let’s get clear on what cap table management actually means. A cap table tracks who owns what in your company. Sounds simple. It isn’t.

The Basics of Equity Tracking

Every time you issue shares, grant options, or close a funding round, your ownership structure changes. A cap table records:

• Common shares held by founders and employees
• Preferred shares issued to investors
• Stock options and their vesting schedules
• Convertible notes and SAFEs
• Warrants and other equity instruments

Manual spreadsheets work at first. Then you hire your tenth employee, close your Series A, and suddenly that Excel file becomes a nightmare. One wrong formula and you’ve miscalculated someone’s ownership stake.

Why Startups Can’t Afford to Get This Wrong

Mistakes in equity management create real problems. Investors won’t close a round if your cap table doesn’t add up. Employees lose trust when their option grants look different than promised. The IRS comes knocking if your 409A valuations don’t hold water.

Cap table software eliminates these risks. It automates calculations, keeps records organized, and generates reports that investors and auditors actually trust.

The question isn’t whether you need a platform. The question is which one.

Pulley: A Closer Look at the Startup-Focused Platform

Pulley launched with a clear mission: make equity management accessible to early-stage companies. Based in San Francisco, the company has raised over $40 million, including a Series B led by Founders Fund at a valuation between $150 million and $300 million.

Who Pulley Serves

Pulley targets founder-led businesses and early-stage ventures. If you’re bootstrapped, just got into an accelerator, or recently closed your seed round, Pulley wants your business.

The platform focuses on simplicity. Founders without finance backgrounds can navigate the interface without calling for help. That’s intentional. Pulley knows its customers don’t have CFOs yet.

Core Features of Pulley

Pulley’s cap table management includes several standout capabilities:

• Real-time cap table updates: Changes reflect immediately across all views
• Scenario modeling: Run “what if” analyses for funding rounds
• 409A valuations: Get compliant valuations, though turnaround takes about 15 days
• ESOP management: Track employee stock options and vesting schedules
• Investor reporting: Generate clean reports for your backers
• Document storage: Keep equity agreements organized in one place

The platform handles complex equity structures surprisingly well for a startup-focused tool. Convertible notes, SAFEs, and multiple share classes don’t trip it up.

Pulley’s Recent Partnership with Nasdaq Private Market

In October 2024, Pulley announced a partnership with Nasdaq Private Market (NPM) to address secondary liquidity. This matters because companies are staying private longer. Employees and early investors want ways to sell their shares before an IPO.

Through this integration, Pulley became the first cap table management system to offer NPM’s Cap Table Connect product. Stakeholder holdings data transfers via API, making liquidity events smoother.

As the companies noted: “Over $55 billion in transaction volume” has flowed through secondary markets. Pulley’s positioning here signals its ambitions beyond basic cap table tracking.

Pulley’s Pricing Structure

Pulley appeals to early-stage startups partly because of its pricing. The platform offers:

• Free tier: Available for very early companies
• Paid plans: Scale based on company size and features needed
• Yearly billing: Plans are annual, not monthly

The annual pricing can feel limiting for fast-growing startups. You might outgrow your tier mid-year and face unexpected upgrade costs. Still, compared to enterprise solutions, Pulley keeps costs reasonable.

Limitations to Consider

No platform is perfect. Pulley has some drawbacks worth noting:

• No Mac or Linux support: Desktop applications are Windows-only
• 409A turnaround: 15 days is longer than some competitors
• Scaling challenges: Hypergrowth companies sometimes outgrow the platform
• No free trial: You commit before trying the full feature set

For a bootstrapped startup, these limitations might not matter. For a Series B company with complex needs, they could become frustrating.

Fidelity Private Shares: The Enterprise-Grade Alternative

Fidelity Private Shares brings the weight of Fidelity Investments behind it. That’s not a small thing. Fidelity manages trillions in assets. When they enter a market, they bring resources and credibility that startups can’t match.

The Target Customer

Fidelity Private Shares doesn’t chase seed-stage companies. The platform targets later-stage private companies, often those approaching or past Series C. These businesses have:

• Complex cap tables with multiple investor classes
• Large employee pools with stock options
• Active interest in secondary liquidity
• Finance teams capable of managing sophisticated tools

If you’re a founder with five employees, Fidelity Private Shares isn’t built for you. If you’re running a unicorn with 500 people wanting to sell vested options, now we’re talking.

What Fidelity Private Shares Offers

The platform’s strength lies in its liquidity features:

• Secondary transaction support: Help employees and investors sell shares
• Tender offers: Structured programs for share buybacks
• Stock plan administration: Manage equity compensation at scale
• Brokerage integration: Connect with Fidelity’s broader financial services
• Compliance support: Handle regulatory requirements for larger companies

The Fidelity name opens doors. Employees trust it. Investors recognize it. That brand recognition matters when you’re asking people to transact their equity through your chosen platform.

The Focus on Liquidity

Secondary liquidity is Fidelity Private Shares’ biggest differentiator. As one comparison noted: “Choose Fidelity Private Shares if you’re a later-stage company focused on liquidity and secondary transactions.”

Why does liquidity matter so much? Consider this scenario:

Your early engineer has been with the company for seven years. Her options are fully vested. She wants to buy a house. Without secondary liquidity, she’s stuck waiting for an IPO or acquisition. With it, she can sell some shares to investors who want exposure to your company.

Fidelity Private Shares makes these transactions possible at scale. The platform handles the complexity of matching buyers and sellers, ensuring compliance, and settling trades.

Pricing and Access

Fidelity Private Shares doesn’t publish pricing openly. That’s typical for enterprise software. You’ll need to contact their sales team for quotes.

Expect higher costs than Pulley. You’re paying for:

• Enterprise-grade infrastructure
• White-glove service
• Liquidity program administration
• Integration with Fidelity’s broader ecosystem

For a late-stage company, these costs make sense. For an early-stage startup, they’re overkill.

Where Fidelity Private Shares Falls Short

The platform isn’t designed for everyone:

• Complexity: Features assume finance sophistication
• Cost: Pricing excludes smaller companies
• Setup time: Implementation takes longer than simpler tools
• Overkill for basics: If you just need cap table tracking, you’re paying for features you won’t use

A pre-seed startup using Fidelity Private Shares would be like driving a semi-truck to the grocery store. It gets the job done, but it’s wildly impractical.

Head-to-Head: Pulley Against Fidelity Private Shares

Now let’s put these platforms side by side. The comparison reveals just how different their approaches are.

Feature Comparison Table

Ease of Use

Pulley wins on simplicity. The interface assumes users don’t have finance degrees. Founders can set up their cap table in an afternoon.

Fidelity Private Shares requires more onboarding. You’ll likely work with their team during implementation. That’s not necessarily bad. It just means you need resources to get started.

Customer Support

Both platforms offer support, but the style differs:

Pulley: Self-service documentation, chat support, startup-friendly response times. You won’t get a dedicated account manager at lower tiers.

Fidelity Private Shares: Enterprise support with dedicated contacts. Expect more hand-holding but also more formal processes.

Integrations

Pulley connects with common startup tools and recently added the Nasdaq Private Market integration. This expands its capabilities significantly.

Fidelity Private Shares integrates with Fidelity’s broader ecosystem. If you use other Fidelity services, the synergy is real. If you don’t, this advantage disappears.

Growth Path

Here’s where the decision gets interesting. Pulley works great at the early stage. But what happens when you scale?

Some companies outgrow Pulley. The platform can struggle with hypergrowth scenarios. You might find yourself migrating to Carta or Fidelity Private Shares as you mature.

Fidelity Private Shares handles scale well but makes less sense early on. You’d pay for capabilities you don’t need yet.

Neither platform offers a perfect growth path from founding to IPO. That’s a gap in the market.

Pricing Breakdown: What You’ll Actually Pay

Let’s talk money. Cap table software pricing varies wildly, and understanding the true cost helps you budget properly.

Pulley’s Pricing Model

Pulley structures pricing around company size and feature needs:

• Starter: Free for very early companies with basic needs
• Growth: Annual fee increases with stakeholder count
• Enterprise: Custom pricing for larger companies

Annual billing is required. That means committing for a full year. If you’re unsure about fit, this feels risky without a free trial.

For a typical seed-stage startup, expect to pay somewhere in the low thousands annually. That’s reasonable for professional cap table management.

Fidelity Private Shares Pricing

Fidelity doesn’t publish prices. You’ll need to talk to sales. Based on market positioning, expect costs appropriate for companies with:

• Hundreds of employees
• Multiple funding rounds completed
• Active interest in liquidity programs

We’re talking enterprise software pricing here. Budget accordingly.

Hidden Costs to Watch

Both platforms may have costs beyond the base subscription:

• 409A valuations: Often priced separately
• Transaction fees: Secondary sales might incur charges
• Implementation: Enterprise setups require paid onboarding
• Overages: Exceeding stakeholder limits triggers upgrades

Ask about these before signing. A low base price means nothing if fees pile up.

Total Cost of Ownership

Think beyond the subscription. Consider:

• Time spent learning the platform
• Integration costs with other tools
• Migration costs if you switch later
• Lost productivity during onboarding

Pulley’s simplicity reduces these hidden costs for small teams. Fidelity’s complexity increases them but may be worth it for larger organizations.

Cap Table Management Features: A Deeper Comparison

Both Pulley and Fidelity Private Shares handle basic cap table management. The differences emerge in how they handle complexity.

Handling Complex Equity Structures

Real cap tables get messy. You might have:

• Multiple share classes with different rights
• Convertible instruments from various rounds
• Anti-dilution provisions
• Participation rights
• Liquidation preferences

Pulley handles these scenarios well for its target market. The platform supports complex equity structures with real-time updates and scenario modeling. You can run “what if” analyses to understand how future rounds will affect ownership.

Fidelity Private Shares handles complexity at scale. When you have thousands of stakeholders and dozens of equity instruments, the platform keeps everything organized.

Scenario Modeling Capabilities

Scenario modeling helps founders understand dilution before it happens. Both platforms offer this, but depth varies.

With Pulley, you can model:

• Future funding rounds
• Option pool expansions
• Exit scenarios
• Pro forma cap tables

These tools help during investor negotiations. You’ll know exactly how a term sheet affects your ownership.

Fidelity Private Shares provides similar capabilities with more granularity for complex situations.

Document Management

Equity involves paperwork. Stock purchase agreements, option grants, investor consents, board approvals. Keeping track of everything matters.

Both platforms store documents and link them to relevant transactions. When an auditor asks for proof of an option grant, you pull it up in seconds instead of digging through email.

Reporting and Analytics

Investors want reports. Board members want updates. Cap table software generates these automatically.

Common reports include:

• Ownership summaries by stakeholder
• Vesting schedules for employees
• Dilution waterfall analyses
• Investor-ready cap tables
• 409A support documentation

Pulley’s reports target startup needs. Clean, simple, investor-friendly.

Fidelity Private Shares reports accommodate enterprise requirements with more customization options.

Employee Equity and Option Plan Management

Equity compensation attracts and retains talent. Managing it properly keeps employees happy and compliant.

Setting Up Option Plans

Both platforms help you create and administer option plans. The process typically involves:

1. Defining the option pool size
2. Setting up the plan documents
3. Creating grant templates
4. Issuing grants to employees
5. Tracking vesting over time

Pulley walks startup founders through this process. Even without an HR team, you can set up a compliant option plan.

Fidelity Private Shares assumes you have professional help. The tools are powerful but expect a learning curve.

Employee Portals

Good cap table software gives employees visibility into their equity. A self-service portal shows:

• Total shares granted
• Vesting progress
• Exercise price and deadlines
• Estimated current value

Both platforms provide employee portals. This reduces questions hitting your inbox and keeps employees engaged with their equity.

Exercise Processing

When employees want to exercise options, the platform should handle it smoothly. Steps include:

• Generating exercise notices
• Processing payments
• Issuing shares
• Updating the cap table
• Generating tax documents

Fidelity Private Shares excels here with its financial services background. Pulley handles exercises but with fewer automated integrations.

Tax Implications and Compliance

Equity compensation triggers tax events. ISOs, NSOs, 83(b) elections, AMT. It gets complicated fast.

Neither platform replaces tax advice. But both help generate the documentation employees need to file correctly.

409A Valuations: A Critical Compliance Requirement

If you grant stock options, you need 409A valuations. Getting this wrong creates serious IRS problems.

What a 409A Valuation Does

A 409A valuation determines the fair market value of your common stock. This sets the strike price for options. The IRS requires these valuations to be:

• Performed by qualified appraisers
• Updated at least annually
• Refreshed after material events

Without a valid 409A, your options might be considered underpriced. That triggers taxes and penalties for employees.

How Pulley Handles 409A

Pulley offers 409A valuations through its platform. The turnaround is about 15 days, which is longer than some competitors. For most startups, this timing works fine.

The valuation integrates directly with your cap table. Once complete, the new strike price applies to future grants automatically.

Fidelity Private Shares and 409A

Fidelity Private Shares provides 409A valuations through partner relationships. Given their enterprise focus, they’re equipped to handle complex valuation scenarios.

Later-stage companies often have more complicated valuation requirements. Multiple share classes, unique preferences, and larger datasets all factor in.

Timing Your Valuations

Plan your 409A valuations strategically:

• Before hiring: Have a fresh valuation when making offers
• After funding rounds: Value typically increases post-investment
• Annually: Maintain compliance even without material events
• Before exits: Protect against tax challenges

Both platforms help you track when valuations expire and need refreshing.

Liquidity Solutions: Where Fidelity Shines and Pulley Catches Up

Secondary liquidity has become a hot topic. Companies stay private longer. Employees and early investors want cash before an IPO.

The Growing Demand for Liquidity

Consider the math. A company raises a Series A in 2018. By 2026, they’re still private. That’s eight years of employee options vesting without any exit.

Early employees want to diversify. They’ve got significant paper wealth tied to one company. Secondary sales let them cash out some shares while keeping the rest.

The market has noticed. Over $55 billion in secondary transactions have occurred, and the number keeps growing.

Fidelity Private Shares’ Liquidity Focus

This is Fidelity’s sweet spot. The platform offers:

• Tender offer administration: Company-sponsored buybacks
• Secondary marketplace access: Match buyers and sellers
• Compliance management: Handle securities regulations
• Settlement services: Execute transactions cleanly

If liquidity is your primary concern, Fidelity Private Shares deserves serious consideration. Their infrastructure handles large-scale transactions that smaller platforms can’t match.

Pulley’s Response: Nasdaq Private Market Integration

Pulley recognized the liquidity gap. Their partnership with Nasdaq Private Market addresses it directly.

As the announcement stated: “Pulley is the first cap table management system to provide this service to their clients via NPM’s Cap Table Connect product.”

For Pulley customers who opt in:

• Stakeholder holdings data transfers via API
• NPM handles the liquidity program administration
• Authentication happens automatically
• Transactions settle through established infrastructure

This partnership levels the playing field somewhat. Pulley customers now have access to legitimate secondary liquidity options.

When to Prioritize Liquidity

Not every company needs liquidity programs immediately. Consider them when:

• You’ve been private for 5+ years
• Employees ask about selling shares frequently
• Early investors want partial exits
• You’re between funding rounds with no exit in sight
• Retention is suffering due to paper-only compensation

If these apply, weight liquidity features heavily in your platform decision.

Security, Compliance, and Data Protection

Your cap table contains sensitive information. Ownership stakes, personal details, financial data. Protecting it matters.

Data Security Standards

Both platforms take security seriously. Expect:

• Encryption for data at rest and in transit
• SOC 2 compliance or equivalent certifications
• Regular security audits
• Access controls and permissions
• Activity logging and audit trails

Fidelity brings additional credibility here. As a major financial institution, they face strict regulatory oversight. Their security practices reflect that.

Pulley, as a startup, must prove itself. They’ve done the work to earn trust, but some enterprises may prefer Fidelity’s established track record.

Compliance Support

Equity management involves regulations. Securities laws, tax rules, employment requirements. Your platform should help you stay compliant.

Both platforms offer:

• Document templates that meet legal standards
• Audit-ready reporting
• 409A valuation support
• Securities filing assistance

Fidelity Private Shares goes deeper for enterprise compliance needs. SEC reporting, international requirements, and complex corporate structures all get addressed.

Data Ownership and Portability

What happens if you switch platforms? Can you export your data?

Both platforms let you export cap table data. The process varies in complexity. Before committing, ask:

• What formats are available for export?
• How complete is the exported data?
• What’s the process for data deletion?
• Who owns the data you input?

These questions prevent lock-in surprises later.

Customer Experience: Real User Perspectives

What do actual users say about these platforms? Let’s look beyond the marketing.

Pulley User Feedback

Early-stage founders generally praise Pulley for:

• Simplicity: “I set up our cap table in an afternoon”
• Affordability: “Finally, something we can actually budget for”
• Clean interface: “My co-founder figured it out without training”
• Responsive support: “They actually answer questions quickly”

Common complaints include:

• Limited features: “We outgrew it faster than expected”
• 409A speed: “Wish the valuations came back faster”
• No free trial: “Hard to commit without testing first”

Fidelity Private Shares User Feedback

Later-stage companies appreciate:

• Brand trust: “Employees feel confident with Fidelity”
• Liquidity options: “The tender offer went smoothly”
• Scale handling: “Manages our 800 employees without issues”
• Integration: “Works well with our other Fidelity services”

Criticisms tend to center on:

• Complexity: “Takes time to learn the system”
• Cost: “Not cheap, but you get what you pay for”
• Enterprise focus: “Overkill when we were smaller”

Migration Stories

Some companies migrate from Pulley to Fidelity Private Shares as they grow. The transition typically happens around Series B or C when liquidity needs increase.

Migration involves:

• Exporting historical data
• Validating records in the new system
• Notifying stakeholders of the change
• Training internal teams

It’s not trivial, but both platforms support the process.

Decision Framework: Which Platform Fits Your Company?

Let’s get practical. How do you actually decide between Pulley and Fidelity Private Shares?

Choose Pulley If:

• You’re pre-seed through Series A
• Budget matters a lot right now
• You don’t have a finance team
• You want something simple today
• Basic cap table management covers your needs
• You’re bootstrapped or just getting started

Pulley gives you professional equity management without enterprise complexity. Start simple, upgrade later if needed.

Choose Fidelity Private Shares If:

• You’re Series C or later
• You need secondary liquidity programs
• Your team already uses Fidelity services
• You have hundreds of employees with equity
• Enterprise compliance requirements apply
• Brand recognition matters for employee trust

Fidelity makes sense when your equity management needs match their enterprise capabilities.

The Gray Zone

Series B companies often fall between these categories. You’ve outgrown basic tools but don’t need everything Fidelity offers.

In this situation, consider:

• How fast you’re growing
• When you’ll need liquidity programs
• Your current team’s capabilities
• Budget flexibility

Some Series B companies stick with Pulley and use the Nasdaq Private Market integration for liquidity. Others move to Fidelity proactively.

Altshare: The Best Alternative to Both Platforms

Sometimes neither Pulley nor Fidelity Private Shares feels right. Maybe you want features from both without the compromises. That’s where Altshare comes in.

What Makes Altshare Different

Altshare bridges the gap between startup-friendly and enterprise-capable. The platform offers:

• Scalable pricing: Grows with your company without cliff pricing
• Full feature set: Cap table, options, 409A, and liquidity tools
• Modern interface: Clean design without steep learning curves
• Flexible implementation: Start simple, add complexity as needed

For companies caught between Pulley and Fidelity Private Shares, Altshare provides a middle path.

Key Features of Altshare

The platform includes everything growing companies need:

• Real-time cap table management: Track ownership across all share classes
• Scenario modeling: Plan future rounds with confidence
• ESOP administration: Manage employee equity from grant to exercise
• 409A valuation support: Stay compliant with current fair market values
• Investor portal: Give backers visibility without manual updates
• Document management: Store and organize equity agreements
• Liquidity planning: Prepare for secondary transactions

Who Should Consider Altshare

Altshare fits companies that:

• Find Pulley too basic but Fidelity too complex
• Want a platform that scales without forced migrations
• Value modern software design and user experience
• Need enterprise features without enterprise complexity
• Plan for growth but need affordable starting points

Altshare vs Pulley

Compared to Pulley, Altshare offers:

• More advanced features at similar price points
• Better scaling for growing companies
• More flexible billing options
• Broader platform support

You get the startup-friendly approach with more room to grow.

Altshare vs Fidelity Private Shares

Compared to Fidelity, Altshare provides:

• Lower cost of entry
• Faster implementation
• Less complexity for mid-stage companies
• Modern software experience

You get enterprise-grade capabilities without the enterprise overhead.

Why Altshare Deserves Your Attention

The cap table management market has been dominated by two types of players: startup tools that you outgrow and enterprise platforms that start too big.

Altshare represents a new approach. Build once, scale as needed. Don’t force migrations. Don’t overpay for features you won’t use yet.

If you’re evaluating Pulley versus Fidelity Private Shares and neither feels perfect, give Altshare a serious look.

Implementation and Migration Considerations

Choosing a platform is one decision. Getting it running is another. Here’s what to expect during implementation.

Starting Fresh with Pulley

New companies can set up Pulley quickly:

1. Create your account
2. Input founder information
3. Add share classes
4. Record any existing investors
5. Set up your option plan
6. Invite stakeholders to the portal

Most startups complete this in a day. The interface guides you through each step.

Starting Fresh with Fidelity Private Shares

Enterprise implementations take longer:

1. Sales discussions and scoping
2. Contract negotiations
3. Data gathering and validation
4. System configuration
5. Integration setup
6. User training
7. Stakeholder migration

Expect weeks to months depending on complexity. Fidelity provides support throughout, but you’ll need internal resources too.

Migrating from Spreadsheets

If you’re moving from Excel, both platforms can import historical data. The process involves:

• Formatting your spreadsheet to match import requirements
• Uploading the data
• Validating that totals match
• Reconciling any discrepancies
• Uploading supporting documents

Clean spreadsheets migrate easily. Messy ones require cleanup first.

Migrating from Another Platform

Switching between cap table platforms happens. Common migrations include:

• Carta to Pulley (seeking lower costs)
• Pulley to Fidelity Private Shares (needing liquidity)
• Any platform to Altshare (seeking better balance)

Most platforms support data export in standard formats. The receiving platform then imports and validates.

Budget extra time for migration. Even smooth transitions have hiccups.

Future Trends in Cap Table Management

The market keeps evolving. Understanding where things are headed helps you make decisions that last.

Continued Focus on Liquidity

Secondary markets will keep growing. As companies stay private longer, demand for employee liquidity increases.

Expect all major platforms to build or partner for liquidity capabilities. Pulley’s Nasdaq partnership signals this trend.

AI and Automation

Cap table software will get smarter. Look for:

• Automated compliance monitoring
• Smarter scenario suggestions
• Natural language queries about ownership
• Predictive analytics for equity planning

These features will differentiate platforms in coming years.

Integration Expansion

Standalone cap table management is giving way to connected ecosystems. Platforms will integrate more deeply with:

• HRIS and payroll systems
• Accounting software
• Legal document tools
• Banking and payment services
• Investor relations platforms

The more connected your cap table, the more valuable it becomes.

Global Expansion

International equity compensation is complex. US-focused platforms are adding support for:

• International tax treatment
• Foreign subsidiary structures
• Multi-currency transactions
• Country-specific compliance

If you have international employees, check each platform’s global capabilities.

Making Your Final Decision

You’ve read thousands of words comparing these platforms. Now it’s time to decide.

Summarizing the Options

Pulley works best for early-stage startups wanting affordable, simple cap table management. The Nasdaq Private Market integration adds liquidity capabilities without enterprise complexity.

Fidelity Private Shares serves later-stage companies needing sophisticated liquidity programs and enterprise-grade infrastructure. The Fidelity brand adds credibility.

Altshare offers the best of both worlds. Startup-friendly pricing with enterprise capabilities. The platform scales with you, eliminating forced migrations.

Questions to Ask Yourself

Before making a final decision, consider:

• What stage is your company today?
• Where will you be in three years?
• What’s your budget for equity management?
• Do you need liquidity programs now or soon?
• How sophisticated is your finance team?
• What other tools need to integrate?

Your answers point toward the right platform.

Taking Action

Don’t let this decision stall. A professional cap table beats spreadsheets every time. Pick a platform, start using it, and adjust if needed.

The best cap table software is the one you actually use consistently.

Conclusion

Pulley and Fidelity Private Shares serve different segments of the market well. Pulley helps early-stage startups manage equity affordably. Fidelity Private Shares gives later-stage companies the liquidity infrastructure they need. Neither perfectly serves companies in the middle. That’s where Altshare stands out as the best alternative, offering scalable features without forcing you to choose between simplicity and capability. Pick the platform that matches your current needs while leaving room to grow.

Frequently Asked Questions About Pulley vs Fidelity Private Shares