Tool profile
EquityList: cost, fit and limits
EquityList is a cap table and equity compliance platform made by E-List Technologies Pvt. Ltd. for startups and growing companies, with an AI Equity Agent whose usage is metered in credits that differ by plan, from a free tier to an Enterprise quote.
What to know first
EquityList sells four tiers: a free plan capped at 10 stakeholders, Build at $100 a month billed annually, Growth at $292 a month billed annually, and a custom Enterprise plan. AI use is metered in credits, 1,000 for life on Free and thousands per month on paid plans. The privacy policy names ISO 27001 and SOC 2 and offers India or United States hosting, but states no retention period or AI training policy.
EquityList at a glance
| Maker | E-List Technologies Pvt. Ltd., India |
|---|---|
| Free plan | Yes |
| Entry price | $0 per month, Build $100 per month billed annually |
| API access | No |
| Category | Best AI Cap Table Management Software in 2026, rank 1 of 11 |
| Website | equitylist.co |
Who EquityList is best for
Founders on a tight budget
The free plan includes cap table management, standard reporting and stakeholder dashboards for up to 10 stakeholders, so a pre-seed company can keep records clean without a card on file.
Companies with an option pool to run
Build adds equity pool management, securities issuance and investor updates for 35 stakeholders, which fits a team that has begun granting options to its first hires.
Multi-entity or later-stage startups
Growth adds multi-entity support, a 409A valuation on annual billing, exercise workflows, board approvals and performance vesting, with one data room included.
EquityList plans and pricing
| Plan | Price | What it includes |
|---|---|---|
| Free | $0 per month | Cap table management, standard reporting, stakeholder dashboards, email and Intercom support for 10 stakeholders, plus 1,000 lifetime AI credits. |
| Build | $100 per month billed annually ($1,200), $125 monthly | Equity pool management, issuing securities, investor updates, activity log, 35 stakeholders and 5,000 AI credits a month. |
| Growth | $292 per month billed annually ($3,500), $265 monthly | Multi-entity support, 409A valuation on annual billing only, exercise workflows, board approvals, performance vesting, one data room, 50 stakeholders and 10,000 AI credits a month. |
| Enterprise | Custom | SAML/SSO, enterprise integrations, custom dashboards, tender offers and a dedicated account manager, all on a quoted contract rather than a printed price. |
Checked November 2026.
What EquityList does
- Equity Agent
- The homepage describes an AI-native cap table and compliance system with an agent at work. Credits are the unit of use, so heavy questioning draws down the monthly allowance on Build and Growth.
- Corporate actions with audit trail
- The homepage lists corporate actions with board approval and an audit trail, which gives a record of who approved a grant or exercise and when.
- Equity pool management
- Build lets a company define a pool, issue securities from it and see what remains, which replaces the pool tab of a spreadsheet for teams granting options regularly.
- Performance vesting and exercises
- Growth supports performance-based vesting and exercise workflows, which covers options that vest on milestones instead of a calendar schedule, and lets holders request exercises that the board then approves.
- Investor updates and dashboards
- Stakeholders see their own dashboards, and Build adds investor updates, so holders can check ownership and receive a periodic summary without the founder emailing a spreadsheet each quarter.
How EquityList handles your data
The privacy policy states that EquityList names ISO 27001 and SOC 2 and that data may be hosted in India or the United States. It does not state whether customer data trains AI models, how long data is kept after cancellation or which model provider handles prompts. The footer shows no legal entity name, while the contact section names E-List Technologies Pvt. Ltd. Since AI credits send ledger questions to a model, ask the vendor in writing which provider is used and whether prompts are stored.
Where EquityList falls short in practice
- Hard cap on the free plan. The free plan stops at 10 stakeholders, and the cap is hard, so a company with a few advisors and early hires will outgrow it quickly and must pay.
- Per-stakeholder overage. Build adds $35 per stakeholder per year after 35 on annual billing, or $4 per month on monthly billing, so a growing option pool raises the bill gradually.
- Enterprise-only access controls. SAML/SSO and tender offers sit on the custom Enterprise plan, which matters to companies whose security teams require single sign-on from day one or plan a secondary share sale.
Works with
Alternatives to EquityList
EquityList: common questions
How many AI credits does EquityList include?
The pricing page lists 1,000 lifetime credits on the free plan, 5,000 a month on Build and 10,000 a month on Growth. It does not state what one question costs in credits, so test a few queries in a trial and watch the counter.
Is the EquityList free plan really free?
Yes, the Free plan is $0 per month and covers cap table management, standard reporting and stakeholder dashboards. It is hard capped at 10 stakeholders, so adding an eleventh holder requires Build. The page does not mention a trial of paid plans.
What does EquityList cost for 40 stakeholders?
Build includes 35 stakeholders at $1,200 a year, and each extra costs $35 a year on annual billing, so 40 holders come to about $1,375 before tax. Monthly billing is $125 plus $4 per extra stakeholder. Confirm the total with the vendor.
Where does EquityList host data?
The privacy policy says India or the United States. It names ISO 27001 and SOC 2 but does not say which report applies to which region or entity. A company with European residency requirements should ask for a written answer first.
Does EquityList include a 409A valuation?
A 409A valuation is listed on Growth and only with annual billing. Build does not list one. The pages opened did not show the valuation provider or turnaround time, so a company with a funding or grant deadline should ask first.