- Start exploring alternatives 4 to 6 weeks before your Carta renewal for a smooth transition.
- Carta's standard terms require at least 15 days' notice, and its standard terms allow renewal pricing to increase by up to 7% without separate notice. Confirm your own Order Form, since terms can vary by contract.
- Cancelling isn't complete once you submit Carta's offboarding form. Use the Download All option during offboarding to export your full historical cap table before you lose access.
- Migrating to Cake is free, typically takes 24 to 48 hours, and preserves your complete historical cap table: transactions, grants, vesting events, and stakeholder records.
- Switching providers doesn't change an investor's underlying ownership, and it's now common for investors and law firms to work across multiple cap table platforms.
Why founders and finance teams are moving off Carta
More founders, CFOs, and finance teams are exploring Carta alternatives. The most common reasons we hear at Cake:
- High overall cost, plus significant renewal increases
- More cost-effective alternatives now available
- Platform complexity and feature bloat
- Paying for functionality the team doesn't actually need
- Wanting a simpler, more intuitive experience
- Wanting more predictable, transparent pricing
- Questions about data practices and how sensitive company data is handled
For some companies, the decision isn't purely about pricing. Cap table platforms hold some of a startup's most sensitive ownership, shareholder, and company data, and trust, data stewardship, and alignment with company values can matter just as much as cost.
Some founders have reconsidered which providers they trust with that information, and there are now alternatives that can be more cost-effective, easier to use, and more transparent for companies and their stakeholders.
Your Carta migration timeline
Here's the full timeline at a glance, working backward from your renewal date. Details on each milestone follow below.
4 to 6 Weeks before renewal: Explore your options
Chances are you've already heard of other Carta alternatives out there. This is the ideal time to start digging in and evaluating your options.
- Compare pricing and functionality
- Consider the migration process
- Read reviews, ask for references
In a crunch? Don't stress. Migrations can happen much faster than this window suggests.
30 Days before renewal: Watch for your renewal pricing
Carta's standard terms allow renewal pricing to increase by up to 7% without separate notice. If Carta is charging a different renewal price, its standard Master Subscription Agreement requires at least 30 days' notice. (Source)
We regularly hear from founders seeing increases of 20%, 30%, 40%, and even 50%. This is a good time to negotiate with Carta, compare alternatives, and decide whether to renew or migrate.
15+ days before renewal: Cancellation checklist
Carta's standard non-renewal deadline is at least 15 days before your subscription term expires. Check your individual Order Form in case your terms differ.
Go to Company Settings → Subscription Details → Subscription Summary → Cancel Subscription.
- Selecting Cancel Subscription initiates Carta's offboarding process.
- Important: Complete and submit the Offboarding Form at least 15 days before your renewal date.
- As part of the offboarding process, Carta gives you the option to Download all of your company data.
- Clicking Download all packages your records for export, including equity reports, security documents, 409A valuation reports, 3921 tax forms, financial reporting, board consents + historical cap table data contained within your reports.
- Historical report data can include the cap table, securities ledger, equity plans, vesting, outstanding options, exercised and settled securities, historical terminations and more.
Once you have these files, you'll have the information needed to migrate your cap table to your next provider without losing your historical cap table records
Before you cancel, double-check anything that may not be included automatically:
- Draft securities and documents
- Draft board consents
- QSBS attestation letters
- Previous financial reporting scenarios
LLCs and companies issuing PIUs: Carta's standard Offboarding Tasks functionality may not be available, so you may need to manually download the relevant information.
In summary: Initiate cancellation -> submit your offboarding form on time -> Download all -> double-check anything not included -> you are ready to migrate.
2 weeks before renewal: Migrate to your new provider
This is Cake's recommended migration window. It gives you enough time to export your Carta data, migrate your cap table, verify everything transferred correctly, and transition without disruption.
Cake migrations typically complete within 48 hours, and rush migrations can be completed within 24 hours.
Migrate to Cake in 48 hours
You export, we import. Cake handles your full cap table migration and onboarding at no additional cost.
- Upload your exported Carta files directly to Cake.
- Cake imports your cap table and historical data.
- Review everything together on a 1:1 call with your migration expert, and upload any additional historical documents if any.
- Invite your investors, employees, and other stakeholders.
No additional migration or onboarding fees at any step.
Common concerns about moving off Carta
What will my investors think if I move off Carta?
Carta is one of the most well-known cap table providers among investors, but there are now many platforms on the market, and it's very common for investors to hold investments across several different ones.
Investors are increasingly familiar with accessing portfolio company equity across different platforms, and switching providers doesn't change an investor's underlying ownership or securities.
At Cake, we generally don't see customers run into issues with investors when they move their cap table off Carta.
Will my lawyers be okay with us moving off Carta?
Startup lawyers are increasingly familiar with cap table platforms beyond Carta, and law firms understand that Carta can become expensive as companies grow.
Cake partners with dozens of top startup law firms that are familiar and comfortable working with Cake, and your legal team can continue supporting equity administration regardless of which provider you use. If you're unsure, loop your counsel into the transition. Moving away from Carta is increasingly commonplace.
Do I need another transfer agent to leave Carta?
For most private companies, no. Carta may ask you to select a new transfer agent as part of offboarding, but that doesn't necessarily mean your company is legally required to have one.
Generally, a private company doesn't need a transfer agent unless it's approaching an IPO or meets certain thresholds (more than $10 million in assets, and either 2,000+ shareholders or 500+ non-accredited shareholders). For the vast majority of early- and growth-stage startups, these thresholds aren't relevant, and moving to a provider that isn't acting as your transfer agent can offer a more flexible experience.
If your company does need or prefer a formal transfer agent, Cake can connect you with a transfer agent partner that uses Cake as the source of truth. Companies approaching these thresholds or an IPO should confirm their specific requirements with legal counsel.
Will I lose any historical data?
No. Cake migrates your complete historical cap table, including transactions, grants, vesting events, and stakeholder records. Your historical cap table stays intact and available in Cake.
Do my shareholders or option holders need to re-sign anything?
No. Existing agreements remain intact, and shareholders and option holders don't need to re-sign anything as part of the migration. Digital share certificates from Carta can be recreated within Cake.
How long does the migration take?
Most Carta to Cake migrations complete within 48 hours, or 2 business days. If you have an urgent deadline, let us know and we can prioritize your onboarding.
How much does the migration cost?
Nothing. Migration and onboarding are included as part of your Cake subscription, with no additional migration fee.
My cap table is complicated. Can Cake handle it?
Yes. Cake supports large numbers of stakeholders, years of transaction and grant history, multiple equity plans, multi-country operations, and multiple legal structures. Cake's team handles the migration and reviews the imported cap table with you.
Are there limitations I'll discover after switching, like stock splits or option repricing?
Stock splits and option repricing are both supported directly within Cake, with the ability to make changes in bulk where needed. If there's a specific workflow you or your attorney are concerned about, Cake can confirm it before you commit.
What about 409A valuations?
Cake works with an experienced valuation partner that has completed 11,000+ valuations, designed to stand up to Big Four audit scrutiny, with audit support included if needed. You can communicate directly with the valuation team before the valuation is finalized to discuss questions, provide company-specific context, and share previous 409As.
Can I try Cake with my actual cap table before committing?
Yes. Cake can build a free trial using your actual Carta data. Export and provide three Carta reports: Cap Table Report (Summary, Detailed, and Securities ledger by type and class), Vesting Details (including milestone vesting if applicable), and Stakeholder Details. Cake can build your trial environment within one business day, so you can explore your own cap table inside Cake, and invite your lawyer or other team members to validate the workflows that matter, before making the switch.
What will the migration be like for my employees and investors?
Once migration is complete, you invite stakeholders to their new Cake portal using Cake's pre-built communication templates. Stakeholders can log in to view equity holdings, access documents, view equity information, and submit exercise requests, with no need to manually recreate their holdings.
What support do I get after migrating?
Dedicated Customer Success support, live Power Up calls when you want to talk through something face to face, and support via in-app chat and email. The team is available to help with both onboarding and ongoing cap table management.
Ready to move? Your migration checklist
☐ Initiate cancellation with Carta
☐ Submit your offboarding form on time (15+ days before renewal)
☐ Download all your data
☐ Migrate with Cake (48 hours, free)
☐ Invite your stakeholders
Most of this takes minutes of your time, and Cake's team handles the rest.
This article is designed and intended to provide general information in summary form on general topics. The material may not apply to all jurisdictions. The contents do not constitute legal, financial or tax advice. The contents is not intended to be a substitute for such advice and should not be relied upon as such. If you would like to chat with a lawyer, please get in touch and we can introduce you to one of our very friendly legal partners.
