Carta vs Vestd

Agent access

1. ai-native userPoint an agent at llms.txt or agent-oriented docs

   weight 2 · round to Vestd
   Carta—none0/10

   Direct probes show no llms.txt file (404) and no machine-readable docs or OpenAPI spec discoverable at expected paths, meaning there's no agent-oriented docs entrypoint for an AI agent to point at; the MCP setup guide is a separate integration path, not an llms.txt/agent-docs format.

   • [probe] “PROBE llms.txt: HTTP 404 at https://docs.carta.com/llms.txt”
   • [probe] “PROBE docs-md: HTTP 404 at https://docs.carta.com/api-platform/.md”
   • [probe] “PROBE openapi: all candidate paths 404 (https://docs.carta.com/openapi.json, https://docs.carta.com/swagger.json, https://docs.carta.com/api…”

   proof ↗⚑ flag

   Vestd✓fullprobed7/10

   vestd-probe-1 confirms a live llms.txt file at the expected path returning HTTP 200 with structured agent-oriented content describing Vestd, directly satisfying the story. Missing for 10: broader agent-oriented docs (e.g. docs-md, openapi) return 404, so coverage is limited to the single llms.txt file rather than a fuller agent-native documentation surface.

   • [probe] “PROBE llms.txt: HTTP 200 at https://www.vestd.com/llms.txt # Vestd > Vestd Ltd is a UK-based sharetech platform that helps companies launch…”
   • [probe] “PROBE docs-md: HTTP 404 at https://www.vestd.com/help.md”
   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”

   proof ↗⚑ flag

2. ai-native userConnect an agent via an official MCP server

   weight 3 · round to Carta
   Carta✓fullprobed7/10

   Carta documents an official Claude MCP setup with pre-built plugins for cap table, investors, and fund data, enabling agent connection via natural-language queries (carta-docs-9, carta-docs-10, carta-docs-11, carta-probe-4). Missing for 10: independent/hands-on third-party corroboration of the MCP server working in practice, and details on broader MCP client support beyond Claude.

   • [claimed-docs] “Connect to your Carta account using pre-built plugins and access fund performance, cap tables, portfolio financials, partner data, and more.”
   • [claimed-docs] “Access ownership, stakeholder lists, SAFEs, convertible notes, option grants, 409A valuations, financing history, compensation benchmarks, a…”
   • [claimed-docs] “The Carta Investors plugin gives LLMs access to your fund's data and allows you to generate tear sheets, budgets, and financial statements.”
   • [claimed-docs] “Query ownership, SAFEs, convertibles, grants, valuations, financing history, and compensation benchmarks.”
   • [claimed-docs] “Access NAV, fund performance, partner data, journal entries, portfolio company financials, build Excel budgets and consolidating P&L / balan…”
   • [probe] “official MCP server documented at https://docs.carta.com/api-platform/guides/guides/claude-mcp-setup/”

   proof ↗⚑ flag

   Vestd—none0/10

   Vestd is an equity/cap-table management SaaS; no evidence of an official MCP server or agent connectivity exists—probes for API/openapi specs all return 404. Missing for 10: any MCP server documentation, API spec, or agent integration endpoint.

   • [probe] “PROBE docs-md: HTTP 404 at https://www.vestd.com/help.md”
   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”

   proof ↗⚑ flag

3. ai-native userDrive the product through a documented public API

   weight 3 · round to Carta
   Carta✓fullprobed8/10

   Carta has a documented public REST API platform with OAuth 2.0 authorization, developer portal, playground/sandbox, extensive reference docs covering cap tables, stakeholders, option grants, valuations, and even Postman guides, clearly enabling programmatic/AI-native access. Missing for 10: no discoverable OpenAPI/swagger spec or llms.txt was found (probes returned 404s), which would strengthen machine-readability claims.

   • [claimed-docs] “Learn how to quickly and easily embed Carta data into your app.”
   • [claimed-docs] “Register for our developer portal and create your playground app to start building.”
   • [claimed-docs] “Carta's API uses the OAuth 2.0 open specification to authorize your access to our data, and supports AUTHORIZATION_CODE and CLIENT_CREDENTIA…”
   • [claimed-docs] “This guide explains how to access Carta's APIs using Postman.”
   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”
   • [claimed-docs] “Retrieve stakeholders. A stakeholder is a person or entity that has been issued a security by an issuer and is, therefore, on the issuer's c…”
   • [claimed-docs] “This document explains how to create issuers using Carta’s Draft Issuer API.”
   • [probe] “PROBE llms.txt: HTTP 404 at https://docs.carta.com/llms.txt”
   • [probe] “PROBE openapi: all candidate paths 404 (https://docs.carta.com/openapi.json, https://docs.carta.com/swagger.json, https://docs.carta.com/api…”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence of a public API; OpenAPI/swagger probes all returned 404, and there's no documentation of REST/API endpoints for programmatic access—only an llms.txt marketing summary exists.

   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”
   • [probe] “PROBE docs-md: HTTP 404 at https://www.vestd.com/help.md”
   • [probe] “PROBE llms.txt: HTTP 200 at https://www.vestd.com/llms.txt # Vestd > Vestd Ltd is a UK-based sharetech platform that helps companies launch…”

   proof ↗⚑ flag

4. ai-native userBuild against official SDKs

   weight 2 · round to Carta
   Carta~partialprobed6/10

   Carta has an extensive REST API with developer portal, OAuth, playground/production environments, and detailed reference docs, satisfying the general SDK-building story; it also documents a Claude MCP setup for AI agent access to cap table/investor data. However, evidence probes show no discoverable OpenAPI spec, llms.txt, or official language-specific SDKs (only raw API + Postman), suggesting 'SDK' support is really API/reference docs rather than packaged SDKs. missing for 10: official language SDKs (Python/JS/etc.), publicly discoverable OpenAPI/machine-readable spec, independent third-party confirmation of SDK usability.

   • [claimed-docs] “Learn how to quickly and easily embed Carta data into your app.”
   • [claimed-docs] “Register for our developer portal and create your playground app to start building.”
   • [claimed-docs] “Carta's API uses the OAuth 2.0 open specification to authorize your access to our data, and supports AUTHORIZATION_CODE and CLIENT_CREDENTIA…”
   • [claimed-docs] “Connect to your Carta account using pre-built plugins and access fund performance, cap tables, portfolio financials, partner data, and more.”
   • [claimed-docs] “This guide explains how to access Carta's APIs using Postman.”
   • [probe] “PROBE llms.txt: HTTP 404 at https://docs.carta.com/llms.txt”
   • [probe] “PROBE docs-md: HTTP 404 at https://docs.carta.com/api-platform/.md”
   • [probe] “PROBE openapi: all candidate paths 404 (https://docs.carta.com/openapi.json, https://docs.carta.com/swagger.json, https://docs.carta.com/api…”
   • [probe] “official MCP server documented at https://docs.carta.com/api-platform/guides/guides/claude-mcp-setup/”

   proof ↗⚑ flag

   Vestd—none0/10

   Vestd is an equity management platform with no evidence of an official SDK; probes for OpenAPI/API specs all returned 404, and only an llms.txt file exists.

   • [probe] “PROBE docs-md: HTTP 404 at https://www.vestd.com/help.md”
   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”
   • [probe] “PROBE llms.txt: HTTP 200 at https://www.vestd.com/llms.txt # Vestd > Vestd Ltd is a UK-based sharetech platform that helps companies launch…”

   proof ↗⚑ flag

5. ai-native userSubscribe to events via webhooks

   weight 2 · round drawn
   Carta—none0/10

   No evidence in the pack mentions webhooks, event subscriptions, or push notifications anywhere in Carta's API platform docs; the documented capabilities are REST endpoints, OAuth flows, MCP/Claude plugins, and a data warehouse, none of which describe webhook subscription support.

   ⚑ flag

   Vestd—none0/10

   No evidence of any webhook subscription mechanism or event API; probes for OpenAPI/API specs all returned 404, and no docs mention webhooks or events.

   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”
   • [probe] “PROBE docs-md: HTTP 404 at https://www.vestd.com/help.md”

   proof ↗⚑ flag

Agentic features

1. ai-native userGet AI-generated insights and suggestions from my data inside the product

   weight 2 · round to Carta
   Carta~partialprobed6/10

   Carta documents an official Claude/MCP integration that lets users ask natural-language questions over cap table, fund, and portfolio data and generate tear sheets, budgets, and financial statements — a form of AI-generated insight from Carta data. However this is delivered via an external LLM (Claude) through MCP rather than a native in-product AI feature, and there is no independent/hands-on evidence corroborating quality or reliability of the insights. Missing for 10: native in-app AI insight generation (not requiring a separate Claude client), independent user validation of insight accuracy, and broader coverage beyond the MCP-specific plugins.

   • [claimed-docs] “Connect to your Carta account using pre-built plugins and access fund performance, cap tables, portfolio financials, partner data, and more.”
   • [claimed-docs] “Access ownership, stakeholder lists, SAFEs, convertible notes, option grants, 409A valuations, financing history, compensation benchmarks, a…”
   • [claimed-docs] “The Carta Investors plugin gives LLMs access to your fund's data and allows you to generate tear sheets, budgets, and financial statements.”
   • [claimed-docs] “Query ownership, SAFEs, convertibles, grants, valuations, financing history, and compensation benchmarks.”
   • [claimed-docs] “Access NAV, fund performance, partner data, journal entries, portfolio company financials, build Excel budgets and consolidating P&L / balan…”
   • [probe] “official MCP server documented at https://docs.carta.com/api-platform/guides/guides/claude-mcp-setup/”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence of any AI-generated insights, analytics, or suggestions feature within Vestd; the product is an equity/cap-table management platform with no mention of AI capabilities.

   ⚑ flag

2. ai-native userSet up automations that run autonomously in the background

   weight 2 · round drawn
   Carta—none0/10

   Carta's docs describe API/OAuth access and an MCP integration for querying cap table and fund data via natural language (carta-docs-9, carta-docs-30, carta-docs-31), but there is no evidence of scheduling, triggers, webhooks, or any mechanism for autonomous background-running automations built on the platform. This axis is fair for an API/data platform, but the evidence pack shows only synchronous query/integration capabilities, not autonomous background automation.

   • [claimed-docs] “Connect to your Carta account using pre-built plugins and access fund performance, cap tables, portfolio financials, partner data, and more.”
   • [claimed-docs] “Query ownership, SAFEs, convertibles, grants, valuations, financing history, and compensation benchmarks.”
   • [claimed-docs] “Access NAV, fund performance, partner data, journal entries, portfolio company financials, build Excel budgets and consolidating P&L / balan…”
   • [claimed-docs] “Carta's API uses the OAuth 2.0 open specification to authorize your access to our data, and supports AUTHORIZATION_CODE and CLIENT_CREDENTIA…”

   proof ↗⚑ flag

   Vestd—none0/10

   Vestd is an equity management platform with some automatic features (e.g., Companies House auto-updates, automated filing), but there is no evidence of user-configurable autonomous background automations akin to AI-native agentic workflows. No API/webhook/automation-builder evidence exists, and no OpenAPI or automation endpoints were found.

   ⚑ flag

3. ai-native userOperate the product with natural-language commands

   weight 2 · round to Carta
   Carta~partialprobed6/10

   Carta documents an official Claude MCP integration allowing natural-language queries over cap tables, fund performance, and financial data (e.g., 'all with natural language questions'), which directly supports AI-native NL interaction. However, this is scoped to specific plugins (cap table, investors) via Claude/MCP rather than a native NL command interface across the whole product, and there's no independent/hands-on corroboration of quality or reliability. Missing for 10: broader natural-language coverage beyond Claude MCP plugins, independent hands-on verification, and evidence of NL support outside the MCP integration.

   • [claimed-docs] “Connect to your Carta account using pre-built plugins and access fund performance, cap tables, portfolio financials, partner data, and more.”
   • [claimed-docs] “Access ownership, stakeholder lists, SAFEs, convertible notes, option grants, 409A valuations, financing history, compensation benchmarks, a…”
   • [claimed-docs] “The Carta Investors plugin gives LLMs access to your fund's data and allows you to generate tear sheets, budgets, and financial statements.”
   • [claimed-docs] “Query ownership, SAFEs, convertibles, grants, valuations, financing history, and compensation benchmarks.”
   • [claimed-docs] “Access NAV, fund performance, partner data, journal entries, portfolio company financials, build Excel budgets and consolidating P&L / balan…”
   • [probe] “official MCP server documented at https://docs.carta.com/api-platform/guides/guides/claude-mcp-setup/”

   proof ↗⚑ flag

   Vestd—none0/10

   Vestd is an equity management platform with a standard web UI; nothing in the evidence pack indicates any natural-language command interface, chatbot, or AI-driven control surface. missing for 10: any documented natural-language/chat command feature, AI assistant, or evidence users can operate the platform via NL input.

   ⚑ flag

Api quality

1. ai-native userExplore an interactive API reference with runnable examples

   weight 2 · round to Carta
   Carta~partialprobed4/10

   Carta has extensive API reference docs and a sandbox/playground environment with static valid responses for testing, which supports exploration without real credentials, but there's no evidence of an interactive 'try it now' console with runnable examples embedded in the docs, and OpenAPI/llms.txt probes all returned 404s. missing for 10: interactive in-browser API console with live runnable requests, OpenAPI spec availability, llms.txt for AI consumption.

   • [claimed-docs] “It doesn't require genuine credentials and always returns static but valid responses to your requests.”
   • [claimed-docs] “Our playground environment provides a similar experience to our production environment.”
   • [claimed-docs] “This guide explains how to access Carta's APIs using Postman.”
   • [probe] “PROBE llms.txt: HTTP 404 at https://docs.carta.com/llms.txt”
   • [probe] “PROBE docs-md: HTTP 404 at https://docs.carta.com/api-platform/.md”
   • [probe] “PROBE openapi: all candidate paths 404 (https://docs.carta.com/openapi.json, https://docs.carta.com/swagger.json, https://docs.carta.com/api…”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence of any API reference, interactive docs, or runnable examples; probes for OpenAPI/swagger endpoints all returned 404s, and Vestd's docs are entirely product/feature help content, not developer API docs.

   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”
   • [probe] “PROBE docs-md: HTTP 404 at https://www.vestd.com/help.md”

   proof ↗⚑ flag

2. ai-native userDownload a machine-readable API spec (OpenAPI or equivalent)

   weight 2 · round drawn
   Carta—none0/10

   Carta has an extensive API reference but there is no evidence of a downloadable OpenAPI/Swagger spec; probes for llms.txt, docs markdown, and common OpenAPI paths all returned 404, indicating no machine-readable spec is exposed.

   • [probe] “PROBE llms.txt: HTTP 404 at https://docs.carta.com/llms.txt”
   • [probe] “PROBE docs-md: HTTP 404 at https://docs.carta.com/api-platform/.md”
   • [probe] “PROBE openapi: all candidate paths 404 (https://docs.carta.com/openapi.json, https://docs.carta.com/swagger.json, https://docs.carta.com/api…”

   proof ↗⚑ flag

   Vestd—none0/10

   The probe explicitly checked for OpenAPI/Swagger specs at all standard locations and found only 404s, and no docs mention a public API spec. No evidence Vestd offers a machine-readable API spec.

   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”

   proof ↗⚑ flag

3. ai-native userTest against a sandbox environment without touching production data

   weight 1 · round to Carta
   Carta✓fullclaimed8/10

   Carta provides an explicit playground/sandbox environment with static but valid mock responses that mimics production, plus a documented path to promote apps from playground to production, directly matching the story. Missing for 10: independent/hands-on developer confirmation that the sandbox fully isolates from production data in practice.

   • [claimed-docs] “It doesn't require genuine credentials and always returns static but valid responses to your requests.”
   • [claimed-docs] “Register for our developer portal and create your playground app to start building.”
   • [claimed-docs] “Our playground environment provides a similar experience to our production environment.”
   • [claimed-docs] “Promote your playground app to production in the Developer Portal.”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence of any sandbox, test/staging environment, or non-production testing mode; the evidence pack covers cap table, share issuance, and comms features only, with no API/sandbox docs (openapi/docs probes returned 404). Missing for 10: sandbox environment docs, test data separation, API test mode, any mention of non-production testing.

   • [probe] “PROBE docs-md: HTTP 404 at https://www.vestd.com/help.md”
   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”

   proof ↗⚑ flag

4. ai-native userRely on versioned APIs with a documented deprecation policy

   weight 2 · round drawn
   Carta—none0/10

   The evidence pack shows API guides, OAuth authorization, and versioned endpoint paths (e.g. 'v-1-alpha-1') but no documented deprecation policy, versioning strategy, or changelog is mentioned anywhere; probes also failed to find an OpenAPI spec that would clarify versioning. Missing for 10: explicit API versioning scheme documentation, deprecation policy/timeline, changelog or migration guides for breaking changes.

   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”
   • [claimed-docs] “Retrieve stakeholders. A stakeholder is a person or entity that has been issued a security by an issuer and is, therefore, on the issuer's c…”
   • [probe] “PROBE openapi: all candidate paths 404 (https://docs.carta.com/openapi.json, https://docs.carta.com/swagger.json, https://docs.carta.com/api…”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence of any public API at all, let alone versioning or a deprecation policy; probes for OpenAPI/swagger specs all returned 404 and there's no mention of an API in docs.

   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”
   • [probe] “PROBE docs-md: HTTP 404 at https://www.vestd.com/help.md”

   proof ↗⚑ flag

1. ai-native userPerform bulk operations across many items at once

   weight 2 · round to Carta
   Carta~partialclaimed4/10

   Carta's API exposes list/read endpoints (stakeholders, option grants, convertible notes, fair market values) and a data warehouse enabling multi-faceted SQL queries across large datasets, which supports bulk retrieval/analysis. However, there is no evidence of bulk write/update/create operations (only single draft option grant / draft issuer creation endpoints), nor any explicit batch-processing or multi-item mutation API for AI-native workflows. Missing for 10: documented bulk create/update/delete endpoints, batch processing limits or examples, and independent/hands-on confirmation of large-scale bulk automation via the API or MCP integration.

   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”
   • [claimed-docs] “Retrieve stakeholders. A stakeholder is a person or entity that has been issued a security by an issuer and is, therefore, on the issuer's c…”
   • [claimed-docs] “Retrieve option grants.”
   • [claimed-docs] “Retrieve convertible notes.”
   • [claimed-docs] “Retrieve the fair market values of an issuer, which are the values of the issuer's securities as determined by the issuer's 409a valuations.”
   • [claimed-docs] “It unifies your firm's most critical data—from fund performance and portfolio financials to partner capital accounts—into a single, queryabl…”
   • [claimed-docs] “Analysts are free to perform sophisticated, multi-faceted SQL queries and analyses without the friction of integrating disparate data source…”

   proof ↗⚑ flag

   Vestd~partialprobed3/10

   The only evidence of multi-item action is issuing/distributing shares to 'one or more recipients' at once (vestd-docs-8), which is a narrow bulk-ish operation in one feature area. There's no evidence of broader bulk operations (bulk import, bulk edit, batch API calls) and no API/OpenAPI surface exists (vestd-probe-3 shows 404s), undermining AI-native automation at scale. missing for 10: bulk CRUD across multiple entity types, CSV/batch import tooling, API or webhook support for programmatic bulk actions, independent confirmation of multi-recipient distribution working at scale.

   • [claimed-docs] “Authorise a share pool and choose a share class, then instantly distribute the equity to one or more recipients.”
   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”

   proof ↗⚑ flag

2. ai-native userDefine rules that trigger actions automatically on events

   weight 3 · round drawn
   Carta—none0/10

   Carta's evidence covers API access, OAuth, data retrieval endpoints, and an MCP/Claude integration for querying data via natural language, but there is no mention of user-defined rules, triggers, webhooks, or event-based automation that fires actions automatically. Missing for 10: rule/trigger definition mechanism, event subscription or webhook system, evidence of automated actions firing on events.

   • [claimed-docs] “Carta's API uses the OAuth 2.0 open specification to authorize your access to our data, and supports AUTHORIZATION_CODE and CLIENT_CREDENTIA…”
   • [claimed-docs] “Connect to your Carta account using pre-built plugins and access fund performance, cap tables, portfolio financials, partner data, and more.”
   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”

   proof ↗⚑ flag

   Vestd—none0/10

   Vestd is an equity/cap-table management platform with automated updates (e.g., Companies House filing, HRIS sync) but there is no evidence of user-defined conditional rules or event-trigger automation configurable by users; no API/webhook or rules-engine is documented (openapi/docs probes return 404).

   • [claimed-docs] “Companies House is automatically updated once shares have been distributed. You don't need to do a thing.”
   • [claimed-docs] “Automate filing with Vestd”
   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”

   proof ↗⚑ flag

Certificates

1. founderIssue electronic share certificates that are legally signed in-platform and permanently linked to the cap table entry they represent

   weight 2 · round to Vestd
   Carta—none0/10

   The evidence pack is entirely about Carta's API platform (developer portal, OAuth, MCP integrations, data endpoints for cap tables, stakeholders, options, etc.) and community complaints about sales/cancellation practices; nothing describes electronic share certificate issuance, in-platform legal e-signature workflows, or certificate-to-cap-table linkage. Missing for 10: any documentation of certificate generation/e-signing feature, evidence of legal validity/compliance, and confirmation of permanent linkage to cap table records.

   ⚑ flag

   Vestd~partialclaimed5/10

   Vestd's site references "Share certificates" and digital share issuance that automatically updates Companies House and the cap table, plus "deed / witness signatures" for governance documents, implying electronic signing tied to shareholding records. However, there is no explicit description of the certificate e-signing workflow or how a certificate is permanently linked to the specific cap table entry it represents. Missing for 10: detailed docs on the e-signature/legal execution process for certificates, explicit description of the permanent link between certificate and cap table record, and independent/hands-on corroboration.

   • [claimed-docs] “Share certificates”
   • [claimed-docs] “Authorise and issue new shares digitally, and update Companies House in the click of a button. No paperwork involved!”
   • [claimed-docs] “Companies House is automatically updated once shares have been distributed. You don't need to do a thing.”
   • [claimed-docs] “Board-ready equity governance and reporting, with deed / witness signatures and custom document templates.”
   • [claimed-docs] “Digital cap table management No more messy spreadsheets scattered across your team. One source of truth, reconciled.”

   proof ↗⚑ flag

Migration

1. ops userMigrate an existing cap table — from a spreadsheet or another platform — with guided import, validation, and reconciliation against source documents

   weight 2 · round to Vestd
   Carta—none0/10

   The evidence pack contains no documentation of a guided cap-table import, data validation, or reconciliation workflow for migrating from spreadsheets or other platforms into Carta; all docs relate to the developer API platform (retrieving data, OAuth, MCP plugins) rather than onboarding. The only related community evidence describes onboarding as an 'involved process' with many help articles and fees, and other threads describe difficulty migrating data OUT of Carta — neither confirms an actual guided import/reconciliation feature.

   • [community] “A founder asked whether switching from a free cap table tool to Carta would be painful, noting Carta onboarding 'has an involved process and…”
   • [community] “I'm the founder of Eqvista, a Carta competitor; we've seen significant migrations from Carta due to cost, lengthy 409A valuation timelines, …”

   proof ↗⚑ flag

   Vestd~partialclaimed4/10

   Vestd markets a 'Migrate to Vestd' offering to digitise or move an existing scheme, and positions itself as replacing 'messy spreadsheets scattered across your team' with 'one source of truth, reconciled,' implying migration support. However there is no evidence of a guided import workflow, validation steps, or reconciliation against source documents — these are just marketing taglines, not documented process detail. Missing for 10: guided import UI/steps, data validation rules, reconciliation process against source spreadsheets/documents, any case study or hands-on account of a migration.

   • [claimed-docs] “Migrate to Vestd - Digitise or move your existing scheme”
   • [claimed-docs] “Migrate to Vestd Digitise or move your existing scheme”
   • [claimed-docs] “Migrate to Vestd | Upgrade today”
   • [claimed-docs] “Digital cap table management No more messy spreadsheets scattered across your team. One source of truth, reconciled.”

   proof ↗⚑ flag

Source of truth

1. founderMaintain my full cap table — share classes, certificates, SAFEs, and option grants — as a live single source of truth that investors and auditors rely on

   weight 3 · round to Vestd
   Carta✓fullclaimed7/10

   Carta's own API docs confirm the core cap-table entities (issuers, share classes, stakeholders, option grants, convertible notes, SAFEs, 409A/FMV data) are all live, queryable objects in a single system, and describe partners, law firms, and auditors accessing this data programmatically — matching the 'single source of truth' story. Community evidence (billing/support complaints, PG's spam remark) is about sales practices and cancellation friction, not about the accuracy or reliability of the cap table data itself, so it doesn't contradict this axis. Missing for 10: independent/hands-on confirmation that investors and auditors actually rely on Carta as source of truth (only vendor docs), and no product UI evidence beyond API references.

   • [claimed-docs] “Access ownership, stakeholder lists, SAFEs, convertible notes, option grants, 409A valuations, financing history, compensation benchmarks, a…”
   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”
   • [claimed-docs] “Retrieve stakeholders. A stakeholder is a person or entity that has been issued a security by an issuer and is, therefore, on the issuer's c…”
   • [claimed-docs] “Retrieve option grants.”
   • [claimed-docs] “Retrieve convertible notes.”
   • [claimed-docs] “Retrieve the fair market values of an issuer, which are the values of the issuer's securities as determined by the issuer's 409a valuations.”
   • [claimed-docs] “Allows law firms and technology partners to fetch cap table information on behalf of the company”
   • [claimed-docs] “This document explains how to create issuers using Carta’s Draft Issuer API.”

   proof ↗⚑ flag

   Vestd✓fullclaimed8/10

   Vestd's docs strongly support a live cap table as single source of truth: digital cap table management with 'one source of truth, reconciled' (vestd-docs-7), share issuance with Companies House auto-updates (vestd-docs-2, vestd-docs-11), share certificates (vestd-docs-31), SAFEs/growth shares (vestd-docs-17, vestd-docs-32), EMI/CSOP/unapproved option grants (vestd-docs-6, vestd-docs-14, vestd-docs-33, vestd-docs-34), and data rooms for investors/auditors to access cap tables and documents (vestd-docs-21). Missing for 10: independent/third-party corroboration (e.g. reviews or case studies) confirming investors/auditors actually rely on it as source of truth, and no direct evidence of multi-user real-time sync guarantees.

   • [claimed-docs] “Digital cap table management No more messy spreadsheets scattered across your team. One source of truth, reconciled.”
   • [claimed-docs] “Companies House is automatically updated once shares have been distributed. You don't need to do a thing.”
   • [claimed-docs] “Authorise and issue new shares digitally, and update Companies House in the click of a button. No paperwork involved!”
   • [claimed-docs] “Share certificates”
   • [claimed-docs] “In this guide, we cover everything there is to know about growth shares, how to use them and who can have them.”
   • [claimed-docs] “Build growth share schemes with Vestd”
   • [claimed-docs] “you will need to create the actual EMI scheme so you can grant share options”
   • [claimed-docs] “How your SME can create a qualifying EMI options scheme”
   • [claimed-docs] “Build unapproved option schemes with Vestd”
   • [claimed-docs] “Company Share Option Plans (CSOPs) on Vestd”
   • [claimed-docs] “From agreements and financials to cap tables and shareholder documents, you decide what to include and **who gets access**.”

   proof ↗⚑ flag

Stock comp

1. ops userProduce ASC 718 stock-based compensation expense reports my accountants can hand to auditors

   weight 2 · round drawn
   Carta—none0/10

   The evidence pack covers Carta's API platform, cap tables, 409A valuations, option grants, and MCP data access, but contains no mention of ASC 718 stock-based compensation expense reports or auditor-ready compliance reporting output. Missing for 10: any documentation of an ASC 718 report, audit trail, or accountant-facing expense reporting feature.

   • [claimed-docs] “This API can be used to calculate the tax implications of a user exercising their equity.”
   • [claimed-docs] “Retrieve the fair market values of an issuer, which are the values of the issuer's securities as determined by the issuer's 409a valuations.”
   • [claimed-docs] “Retrieve option grants.”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence pack item mentions ASC 718, expense reporting, amortization schedules, or auditor-ready compliance reports; the closest items (409A valuations, share valuations, Companies House filings) address different compliance needs, not GAAP stock-based compensation expensing.

   ⚑ flag

Us filings

1. ops userUS equity compliance — Rule 701 disclosure thresholds, Form 3921 filings, 83(b) elections — is tracked and generated from the cap table automatically

   weight 2 · round drawn
   Carta—none0/10

   The evidence pack covers Carta's API platform, OAuth, MCP integrations, and cap table data endpoints, but contains no mention of Rule 701 disclosure threshold tracking, Form 3921 filing generation, or 83(b) election tracking/automation. The closest item (carta-docs-13, FMV/tax implications API) is generic tax calculation, not these specific compliance filings.

   ⚑ flag

   Vestd—none0/10

   Vestd's evidence pack is UK-centric (Companies House filings, EMI/CSOP schemes, UK valuations) and only briefly touches US exposure via 409A valuations for UK companies issuing to US taxpayers; there is no mention of Rule 701 thresholds, Form 3921 filings, or 83(b) election tracking/generation anywhere in the docs or probes.

   • [claimed-docs] “If you're a UK company issuing options to US taxpayers, you need 409A valuations. Get your 409A valuation from Vestd for a small fee.”
   • [claimed-docs] “Automate filing with Vestd”
   • [claimed-docs] “Share valuation | Vestd”

   proof ↗⚑ flag

Agent access

1. ai-native userAn agent can draft securities (e.g. option grants) via the platform's programmatic surface and leave them queued for human board approval

   weight 2 · round to Carta
   Carta~partialclaimed6/10

   Carta's API explicitly supports creating draft option grants that remain unapproved until board consent (carta-docs-22), and the programmatic surface (REST API plus OAuth) allows an agent to call this endpoint directly; the MCP/Claude integration also exposes option grant data for natural-language agent use (carta-docs-9, carta-docs-10, carta-docs-30). However, evidence doesn't show an end-to-end documented workflow specifically for an agent drafting a grant via MCP/Claude and it landing in a board approval queue, nor confirmation that the MCP plugin exposes write/draft-creation actions (it seems read/query-oriented). missing for 10: explicit documentation that the MCP-agent surface (not just direct REST API) can create draft securities, and confirmation of the human board-approval queue/workflow tied to that draft creation.

   • [claimed-docs] “A draft option grant is an option grant that is either still being finalized or that has not yet received board consent and approval.”
   • [claimed-docs] “Connect to your Carta account using pre-built plugins and access fund performance, cap tables, portfolio financials, partner data, and more.”
   • [claimed-docs] “Access ownership, stakeholder lists, SAFEs, convertible notes, option grants, 409A valuations, financing history, compensation benchmarks, a…”
   • [claimed-docs] “Query ownership, SAFEs, convertibles, grants, valuations, financing history, and compensation benchmarks.”
   • [claimed-docs] “Carta's API uses the OAuth 2.0 open specification to authorize your access to our data, and supports AUTHORIZATION_CODE and CLIENT_CREDENTIA…”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence of any programmatic/API surface for drafting option grants or other securities—OpenAPI/swagger probes all return 404, and all cited docs describe human UI workflows (admin authorizes share pools, recipients submit exercise requests via the platform) rather than an agent-accessible API queue. missing for 10: any API/SDK endpoint for creating draft grants, evidence of an approval-queue object model, developer documentation referencing programmatic access.

   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”
   • [claimed-docs] “Authorise a share pool and choose a share class, then instantly distribute the equity to one or more recipients.”
   • [claimed-docs] “When a recipient is ready to exercise their options, they submit a request through Vestd. The company's admin user then revi”
   • [probe] “PROBE llms.txt: HTTP 200 at https://www.vestd.com/llms.txt # Vestd > Vestd Ltd is a UK-based sharetech platform that helps companies launch…”

   proof ↗⚑ flag

2. ai-native userHave an agent pull my current cap table programmatically and reconcile it against my data room before a financing

   weight 3 · round to Carta
   Carta~partialprobed6/10

   Carta ships a documented REST API (capitalization table, stakeholders, option grants, convertible notes, FMV endpoints) plus an official Claude MCP server that lets an agent query cap table data via natural language, directly enabling programmatic cap-table pulls. However, there is no evidence of any data-room integration or reconciliation feature/endpoint tying cap table data to data-room documents for financing diligence. Missing for 10: data-room reconciliation capability, evidence of cross-referencing cap table vs data room documents, independent/hands-on validation of the MCP or API for this workflow.

   • [claimed-docs] “Connect to your Carta account using pre-built plugins and access fund performance, cap tables, portfolio financials, partner data, and more.”
   • [claimed-docs] “Access ownership, stakeholder lists, SAFEs, convertible notes, option grants, 409A valuations, financing history, compensation benchmarks, a…”
   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”
   • [claimed-docs] “Retrieve stakeholders. A stakeholder is a person or entity that has been issued a security by an issuer and is, therefore, on the issuer's c…”
   • [claimed-docs] “Retrieve option grants.”
   • [claimed-docs] “Retrieve convertible notes.”
   • [claimed-docs] “Retrieve the fair market values of an issuer, which are the values of the issuer's securities as determined by the issuer's 409a valuations.”
   • [probe] “official MCP server documented at https://docs.carta.com/api-platform/guides/guides/claude-mcp-setup/”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence of any API, export, or programmatic access to cap table data — the openapi probe returned 404s on all candidate paths and there's no mention of an API for agents to pull cap table data. Data rooms and cap table features are UI-based document storage, not programmatic reconciliation tools.

   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”
   • [claimed-docs] “Digital cap table management No more messy spreadsheets scattered across your team. One source of truth, reconciled.”
   • [claimed-docs] “From agreements and financials to cap tables and shareholder documents, you decide what to include and **who gets access**.”

   proof ↗⚑ flag

Api access

1. developerPull the full capitalization table — stakeholders, share classes, securities, and vesting states — through a documented programmatic API

   weight 3 · round to Carta
   Carta✓fullclaimed9/10

   Carta's docs show a documented REST API with specific endpoints to retrieve capitalization tables by share class, stakeholders, option grants, convertible notes, draft securities, and fair market values, plus OAuth2-based authentication and a sandbox/playground for testing before production. Community evidence does not contradict the API's data-access functionality. Missing for 10: no independent third-party developer testimonial confirming real-world completeness/accuracy of the API responses, and no public OpenAPI spec discoverable (probe shows 404s).

   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”
   • [claimed-docs] “Retrieve stakeholders. A stakeholder is a person or entity that has been issued a security by an issuer and is, therefore, on the issuer's c…”
   • [claimed-docs] “Retrieve option grants.”
   • [claimed-docs] “Retrieve convertible notes.”
   • [claimed-docs] “A draft option grant is an option grant that is either still being finalized or that has not yet received board consent and approval.”
   • [claimed-docs] “Retrieve the fair market values of an issuer, which are the values of the issuer's securities as determined by the issuer's 409a valuations.”
   • [claimed-docs] “Carta's API uses the OAuth 2.0 open specification to authorize your access to our data, and supports AUTHORIZATION_CODE and CLIENT_CREDENTIA…”
   • [claimed-docs] “The formulas below show how to calculate the following outstanding and fully diluted percentages using our Capitalization Table endpoint”

   proof ↗⚑ flag

   Vestd—none0/10

   There is no evidence of any documented API for pulling cap table data — probes for OpenAPI/Swagger specs all returned 404, and no docs mention an API at all; the HRIS integration mention is inbound data sync, not an outbound programmatic cap table export. Evidence only covers UI-based features like issuing shares, data rooms, and shareholder comms.

   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”
   • [probe] “PROBE docs-md: HTTP 404 at https://www.vestd.com/help.md”
   • [claimed-docs] “Connect your HR platform to Vestd and end the manual data shuffle.”
   • [claimed-docs] “Digital cap table management No more messy spreadsheets scattered across your team. One source of truth, reconciled.”

   proof ↗⚑ flag

Partner access

1. developerThird parties my company authorizes — law firms, HRIS vendors, wealth managers — can access scoped slices of equity data on our behalf without full admin credentials

   weight 2 · round to Carta
   Carta✓fullclaimed8/10

   Carta's docs explicitly describe OAuth 2.0 authorization with scoped access (AUTHORIZATION_CODE/CLIENT_CREDENTIALS grants, custom OAuth scopes) and name exactly the third-party use cases in the story — law firms fetching cap table data on behalf of companies, personal finance/wealth partners aggregating equity holdings, and incorporation partners programmatically onboarding customers — all without requiring full admin credentials. Missing for 10: independent/hands-on corroboration that scope restrictions work as intended in production, and explicit documentation of an HRIS-specific integration scope (only 'personal finance' and 'law firm' partner types are named directly).

   • [claimed-docs] “Carta's API uses the OAuth 2.0 open specification to authorize your access to our data, and supports AUTHORIZATION_CODE and CLIENT_CREDENTIA…”
   • [claimed-docs] “Adding new OAuth scopes to your OAuth application allows you to enhance the capabilities of your integration with the Carta API platform.”
   • [claimed-docs] “Allows incorporation partners and law firms to programmatically send new customers to Carta”
   • [claimed-docs] “Allows fund operators to retrieve summary cap table insights for their portfolio holdings”
   • [claimed-docs] “Allows law firms and technology partners to fetch cap table information on behalf of the company”
   • [claimed-docs] “Allows personal finance management partners to aggregate holdings inclusive of equity data”
   • [claimed-docs] “Allows funds to manage their deal and fundraising relationships across the investment process”

   proof ↗⚑ flag

   Vestd~partialprobed4/10

   Vestd's data rooms let admins choose 'who gets access' to specific documents/cap table data, and HRIS integrations exist, which suggest some scoped sharing is possible, but there's no evidence of a distinct third-party/advisor role with limited permissions (vs. full admin) or an API/portal built for law firms or wealth managers. No OpenAPI/API surface was found (probe-3 404), so scoped programmatic access can't be confirmed. Missing for 10: explicit third-party role-based permissions, documented advisor/accountant access tier, API or portal scoped for external professionals.

   • [claimed-docs] “From agreements and financials to cap tables and shareholder documents, you decide what to include and **who gets access**.”
   • [claimed-docs] “Connect your HR platform to Vestd and end the manual data shuffle.”
   • [claimed-docs] “HRIS Integration | Vestd”
   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”

   proof ↗⚑ flag

Bulk issuance

1. ops userUpload or issue securities in bulk — a batch of grants or historical transactions — instead of entering them one at a time

   weight 2 · round to Vestd
   Carta~partialclaimed3/10

   Carta's API exposes endpoints to create individual draft option grants and draft issuers programmatically (carta-docs-22, carta-docs-33), which could be scripted to issue many grants, but there is no documented bulk/batch upload endpoint, CSV import tool, or explicit 'bulk issuance' feature for historical transactions. Missing for 10: a dedicated batch/bulk-create endpoint or CSV import UI, documentation describing bulk historical transaction import, and any independent confirmation that ops teams actually use this for bulk issuance.

   • [claimed-docs] “A draft option grant is an option grant that is either still being finalized or that has not yet received board consent and approval.”
   • [claimed-docs] “This document explains how to create issuers using Carta’s Draft Issuer API.”
   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”

   proof ↗⚑ flag

   Vestd~partialclaimed4/10

   Vestd's issue-shares flow lets an admin 'distribute equity to one or more recipients' in one action (vestd-docs-8), and its migration/HRIS-integration pages talk about digitising or moving an 'existing scheme' and connecting HR systems to avoid manual data entry (vestd-docs-1, vestd-docs-9, vestd-docs-10, vestd-docs-22, vestd-docs-35), implying some batch/historical-data ingestion. However, there is no explicit documentation of a bulk CSV upload, spreadsheet import, or dedicated batch-grant tool, and no independent/hands-on confirmation of how many recipients or historical transactions can be processed at once. Missing for 10: explicit bulk upload/import tool documentation, evidence of batch historical-transaction entry, and independent corroboration of scale.

   • [claimed-docs] “Authorise a share pool and choose a share class, then instantly distribute the equity to one or more recipients.”
   • [claimed-docs] “Migrate to Vestd - Digitise or move your existing scheme”
   • [claimed-docs] “Migrate to Vestd Digitise or move your existing scheme”
   • [claimed-docs] “Connect your HR platform to Vestd and end the manual data shuffle.”
   • [claimed-docs] “HRIS Integration | Vestd”
   • [claimed-docs] “Migrate to Vestd | Upgrade today”

   proof ↗⚑ flag

Option grants

1. founderIssue options to a new hire with a board approval flow and a 409A-compliant strike price in one end-to-end workflow

   weight 3 · round drawn
   Carta~partialclaimed6/10

   Carta's API docs confirm the underlying data model for this workflow: draft option grants require 'board consent and approval' before finalization (carta-docs-22), and FMV/409A valuation data is available to price grants compliantly (carta-docs-23, carta-docs-13, carta-docs-20). This implies the platform supports issuing 409A-priced options with board approval, but the evidence is API-reference level rather than a documented end-to-end founder-facing workflow, and there is no independent/hands-on confirmation that a founder can complete this in one seamless flow. missing for 10: first-party product walkthrough of the founder-facing grant-issuance UI (not just API), independent user confirmation the board-approval-to-409A-strike flow works smoothly end-to-end.

   • [claimed-docs] “A draft option grant is an option grant that is either still being finalized or that has not yet received board consent and approval.”
   • [claimed-docs] “Retrieve the fair market values of an issuer, which are the values of the issuer's securities as determined by the issuer's 409a valuations.”
   • [claimed-docs] “This API can be used to calculate the tax implications of a user exercising their equity.”
   • [claimed-docs] “Retrieve option grants.”

   proof ↗⚑ flag

   Vestd~partialclaimed6/10

   Vestd provides EMI option scheme setup and granting (vestd-docs-6, vestd-docs-15, vestd-docs-25), board-ready governance/reporting with signatures (vestd-docs-18), and a dedicated 409A valuation service for issuing to US taxpayers (vestd-docs-16, vestd-docs-28), which together cover the major pieces of the story. However, no evidence shows these steps are chained into one single end-to-end workflow (board approval → 409A strike price lookup → grant issuance) triggered from a new-hire event; the docs describe separate features/pages rather than an integrated flow. Missing for 10: a documented single workflow linking board approval, 409A valuation retrieval, and option grant issuance in one pass, and independent/hands-on confirmation that this sequence works seamlessly end-to-end.

   • [claimed-docs] “you will need to create the actual EMI scheme so you can grant share options”
   • [claimed-docs] “How to grant EMI share options”
   • [claimed-docs] “Board-ready equity governance and reporting, with deed / witness signatures and custom document templates.”
   • [claimed-docs] “If you're a UK company issuing options to US taxpayers, you need 409A valuations. Get your 409A valuation from Vestd for a small fee.”
   • [claimed-docs] “Share valuation | Vestd”
   • [claimed-docs] “Granting EMI Share Options Scheme | Vestd”

   proof ↗⚑ flag

Vesting

1. ops userDefine custom vesting schedules — cliffs, milestones, acceleration on exit — and the platform tracks vested vs unvested automatically

   weight 2 · round drawn
   Carta—none0/10

   The evidence pack covers Carta's API platform, OAuth, MCP integrations, and cap table/option-grant retrieval endpoints, but contains no mention of defining custom vesting schedules, cliffs, milestone-based vesting, or acceleration-on-exit logic, nor of automatic vested/unvested tracking. Since Carta is an equity management platform, this is a core applicable axis, but no supporting evidence exists in the pack.

   ⚑ flag

   Vestd—none0/10

   The evidence pack covers share issuance, EMI/growth/unapproved scheme setup, exercising options, cap tables, and communications, but nowhere describes defining custom vesting schedules with cliffs, milestones, or exit-acceleration, nor automatic vested/unvested tracking. Missing for 10: any documentation of vesting schedule configuration, cliff/milestone logic, acceleration-on-exit handling, or automated vested-vs-unvested calculation.

   • [claimed-docs] “you will need to create the actual EMI scheme so you can grant share options”
   • [claimed-docs] “How your SME can create a qualifying EMI options scheme”
   • [claimed-docs] “How to grant EMI share options”
   • [claimed-docs] “In this guide, we cover everything there is to know about growth shares, how to use them and who can have them.”
   • [claimed-docs] “When a recipient is ready to exercise their options, they submit a request through Vestd. The company's admin user then revi”

   proof ↗⚑ flag

Investor relations

1. founderMy investors get their own portal view of their holdings and can receive structured updates without emailing me for the cap table

   weight 1 · round to Vestd
   Carta—none0/10

   The evidence pack only covers Carta's developer API/MCP platform and negative community reports about cancellation and cold-calling practices; none of it documents a dedicated investor portal or structured update/reporting feature that would let investors self-serve cap table data without contacting the founder. The one tangential remark (Paul Graham noting Carta 'will spam all your investors') describes unsolicited outreach, not a structured self-serve portal, so it does not establish this capability.

   • [community] “Paul Graham (2021): 'If you use Carta to manage your cap table, they will spam all your investors.'”

   proof ↗⚑ flag

   Vestd~partialclaimed7/10

   Vestd offers shareholder dashboards (vestd-docs-37, vestd-probe via shareholder-dashboards page) and dedicated shareholder communication tools including targeted updates and mailing lists (vestd-docs-3, vestd-docs-13, vestd-docs-24), which directly supports investors having self-service visibility and structured updates rather than emailing the founder. However, evidence is all first-party marketing copy with no independent/hands-on confirmation of the investor-side experience or what 'structured updates' concretely look like (e.g. automated reports vs manual email blasts). Missing for 10: independent/hands-on validation of the investor portal UX, detail on automated/structured update formats, and confirmation that portal access is self-serve without founder intervention.

   • [claimed-docs] “Invite your team.”
   • [claimed-docs] “Keep your shareholders in the loop with regular updates, directly from the Vestd platform.”
   • [claimed-docs] “Create bespoke mailing lists to segment stakeholders, to send targeted updates to specific groups.”
   • [claimed-docs] “Shareholder Communication Solutions | Vestd”
   • [claimed-docs] “Digital cap table management No more messy spreadsheets scattered across your team. One source of truth, reconciled.”

   proof ↗⚑ flag

Safes

1. founderCreate, send, and e-sign SAFEs or convertible notes in-platform, and they land on the cap table with their conversion terms modeled

   weight 3 · round to Carta
   Carta~partialclaimed4/10

   Evidence confirms convertible notes/SAFEs exist as objects on Carta's cap table and can be queried via API (carta-docs-21, carta-docs-30, carta-docs-10), implying they are modeled once created, but there is no documentation in this pack of an in-platform workflow to draft, send, or e-sign a SAFE/convertible note (only a 'Draft Issuer API' and 'draft option grant' creation flow are mentioned, not draft convertible notes or e-signature). Missing for 10: evidence of SAFE/convertible note creation and e-signature workflow, evidence that terms auto-model conversion scenarios upon signing.

   • [claimed-docs] “Retrieve convertible notes.”
   • [claimed-docs] “Query ownership, SAFEs, convertibles, grants, valuations, financing history, and compensation benchmarks.”
   • [claimed-docs] “Access ownership, stakeholder lists, SAFEs, convertible notes, option grants, 409A valuations, financing history, compensation benchmarks, a…”
   • [claimed-docs] “This document explains how to create issuers using Carta’s Draft Issuer API.”
   • [claimed-docs] “A draft option grant is an option grant that is either still being finalized or that has not yet received board consent and approval.”

   proof ↗⚑ flag

   Vestd—none0/10

   Vestd's evidence covers cap table management, share issuance, EMI/CSOP/growth share schemes, valuations, and Companies House filing, but nothing mentions SAFEs, convertible notes, e-signing of fundraising instruments, or conversion-term modeling. This appears to be an equity/options management platform, not a SAFE/convertible-note fundraising tool.

   ⚑ flag

Scenario modeling

1. ops userRun exit waterfall analyses showing proceeds per share class and stakeholder under different exit values, honoring preferences and participation

   weight 2 · round drawn
   Carta—none0/10

   Evidence covers cap table data retrieval (share classes, stakeholders, option grants, FMV, convertibles) via API, but nothing documents exit waterfall modeling, proceeds-per-share-class calculations under different exit values, or handling of liquidation preferences/participation rights.

   ⚑ flag

   Vestd—none0/10

   Vestd's evidence covers cap table management, share issuance, EMI schemes, valuations, and shareholder comms, but nowhere mentions exit waterfall modeling, liquidation preferences, participation rights, or proceeds distribution scenarios under different exit values.

   ⚑ flag

2. founderModel a priced round — dilution, option pool top-up, SAFE conversion, pro-forma ownership — and share the scenario with counsel and investors

   weight 3 · round drawn
   Carta—none0/10

   The evidence pack covers Carta's developer/API platform (cap table data retrieval, OAuth, MCP plugins, data warehouse) but contains no documentation of a scenario-modeling tool for priced rounds, dilution, option pool top-ups, SAFE conversion modeling, or pro-forma ownership sharing with counsel/investors. Only tangential API endpoints exist (cap table percentage calculation, convertible note listing, draft option grants) but none describe an interactive round-modeling workflow.

   • [claimed-docs] “The formulas below show how to calculate the following outstanding and fully diluted percentages using our Capitalization Table endpoint”
   • [claimed-docs] “Retrieve convertible notes.”
   • [claimed-docs] “A draft option grant is an option grant that is either still being finalized or that has not yet received board consent and approval.”
   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”

   proof ↗⚑ flag

   Vestd—none0/10

   Vestd's evidence covers cap table management, share issuance, EMI/CSOP option schemes, valuations, and data rooms, but nothing describes scenario modeling for a priced funding round — no mention of dilution modeling, option pool top-up simulation, SAFE conversion, or pro-forma ownership scenarios shareable with counsel/investors.

   ⚑ flag

Board approvals

1. founderBoard consents and stockholder approvals are drafted, routed for e-signature, and archived against the transactions they authorize

   weight 2 · round to Vestd
   Carta—none0/10

   The evidence only shows API references to option grants requiring 'board consent and approval' as a status flag (carta-docs-22), but there is no documentation of a workflow for drafting board consents/stockholder approvals, routing them for e-signature, or archiving them against the transactions they authorize. Governance workflows are a plausible axis for a cap table platform, but no evidence substantiates this specific capability.

   • [claimed-docs] “A draft option grant is an option grant that is either still being finalized or that has not yet received board consent and approval.”

   proof ↗⚑ flag

   Vestd~partialclaimed4/10

   Vestd advertises 'board-ready equity governance and reporting, with deed/witness signatures and custom document templates' and data rooms that store agreements and shareholder documents tied to transactions, suggesting some document generation, e-signature, and archiving capability. However there is no explicit evidence of board consent or stockholder approval drafting/routing as a distinct governance workflow (e.g., resolution templates, approval routing tied to specific transactions like grants or share issuances). Missing for 10: explicit board consent/resolution drafting workflow, dedicated e-signature routing for approvals, and evidence that approvals are archived and linked to the specific transactions they authorize.

   • [claimed-docs] “Board-ready equity governance and reporting, with deed / witness signatures and custom document templates.”
   • [claimed-docs] “Document templates for startups | Vestd”
   • [claimed-docs] “our Data rooms let you store and share important files in one secure, central place”
   • [claimed-docs] “From agreements and financials to cap tables and shareholder documents, you decide what to include and **who gets access**.”

   proof ↗⚑ flag

Counsel access

1. ops userMy outside counsel can work directly in the platform with law-firm roles — preparing documents and updating records without emailing spreadsheets

   weight 2 · round to Carta
   Carta~partialclaimed3/10

   Docs mention law firms and technology partners can be granted API access to 'fetch cap table information on behalf of the company' and 'programmatically send new customers to Carta,' implying some counsel-facing integration exists, but there is no evidence of an actual in-platform law-firm role for preparing documents or updating cap-table records directly in the UI. missing for 10: documentation of a dedicated law-firm/outside-counsel platform role, UI workflows for document preparation, and evidence of record-updating permissions rather than just read-only API access.

   • [claimed-docs] “Allows incorporation partners and law firms to programmatically send new customers to Carta”
   • [claimed-docs] “Allows law firms and technology partners to fetch cap table information on behalf of the company”

   proof ↗⚑ flag

   Vestd—none0/10

   Evidence shows data rooms with configurable access ([vestd-docs-21]) and generic 'invite your team' ([vestd-docs-37]), but nothing indicates a dedicated law-firm/counsel role, permissions tier, or workflow for external counsel to prepare documents or update records directly. Missing for 10: evidence of a counsel-specific role/permission set, document-drafting workflow for external lawyers, or any mention of law firm collaboration.

   • [claimed-docs] “From agreements and financials to cap tables and shareholder documents, you decide what to include and **who gets access**.”
   • [claimed-docs] “Invite your team.”
   • [claimed-docs] “Board-ready equity governance and reporting, with deed / witness signatures and custom document templates.”

   proof ↗⚑ flag

Data room

1. ops userShare a permissioned, diligence-ready data room — cap table views plus underlying documents — with counsel and investors

   weight 2 · round to Vestd
   Carta—none0/10

   The evidence pack covers Carta's developer API platform, OAuth scopes, and an MCP/Claude plugin for querying cap table data — none of it describes a permissioned data-room product for sharing cap table views plus underlying documents with counsel/investors for diligence purposes. Community evidence only discusses pricing, cancellation friction, and sales-practice complaints, which are off-topic for this story.

   ⚑ flag

   Vestd✓fullclaimed7/10

   Vestd's Data Rooms feature explicitly lets ops users store cap tables and documents (agreements, financials, shareholder docs) in one secure place and control "who gets access," directly matching the permissioned diligence-ready sharing story, supplemented by board-ready governance/reporting docs. Missing for 10: independent/hands-on corroboration of the permissioning granularity (e.g., counsel vs investor role-based access), and no evidence of audit logs or expiry controls typical of enterprise data rooms.

   • [claimed-docs] “our Data rooms let you store and share important files in one secure, central place”
   • [claimed-docs] “our Data rooms let you store and share important files in one secure, central place.”
   • [claimed-docs] “our **Data rooms** let you store and share important files in one secure, central place.”
   • [claimed-docs] “From agreements and financials to cap tables and shareholder documents, you decide what to include and **who gets access**.”
   • [claimed-docs] “Board-ready equity governance and reporting, with deed / witness signatures and custom document templates.”

   proof ↗⚑ flag

Hris sync

1. ops userStakeholders sync from my HRIS/payroll system (e.g. Gusto, Rippling) so new hires and terminations flow into equity records automatically

   weight 2 · round to Vestd
   Carta—none0/10

   The evidence pack shows Carta's API/MCP platform covers cap tables, stakeholders, option grants, valuations, and OAuth access, but there is no mention of any HRIS/payroll integration (Gusto, Rippling, etc.) or automated sync of new hires/terminations into equity records. Absence of evidence for this specific applicable integration means it does not deliver the story.

   • [claimed-docs] “Learn how to quickly and easily embed Carta data into your app.”
   • [claimed-docs] “Retrieve stakeholders. A stakeholder is a person or entity that has been issued a security by an issuer and is, therefore, on the issuer's c…”
   • [claimed-docs] “Retrieve option grants.”

   proof ↗⚑ flag

   Vestd~partialclaimed5/10

   Vestd has a dedicated HRIS integration page claiming to 'connect your HR platform to Vestd and end the manual data shuffle,' indicating some sync capability exists, but there's no detail on which HRIS systems (Gusto, Rippling, etc.) are supported, what data syncs (new hires/terminations specifically), or how automated equity record updates are. Missing for 10: named integration partners, specifics on new-hire/termination triggers flowing into equity records, technical/API documentation, and independent or hands-on confirmation the sync works as described.

   • [claimed-docs] “Connect your HR platform to Vestd and end the manual data shuffle.”
   • [claimed-docs] “HRIS Integration | Vestd”

   proof ↗⚑ flag

1. ai-native userDo everything through the API that I can do in the UI

   weight 2 · round to Carta
   Carta~partialprobed5/10

   Carta exposes a broad read/write REST API (cap tables, stakeholders, option grants, convertible notes, 409A/FMV, draft issuer/option-grant creation) plus an MCP integration for natural-language querying, showing meaningful API-UI overlap for core equity data. However, there's no evidence of a machine-readable OpenAPI spec (all probes 404) or of API parity for many UI workflows (e.g., exercising options, secondary transactions, cancellations, full administrative actions), so full UI-API parity is unproven. Missing for 10: comprehensive OpenAPI/spec coverage, evidence of write-parity for transactional workflows (exercises, financings, secondary sales), and independent confirmation that all UI actions are API-accessible.

   • [claimed-docs] “Carta's API uses the OAuth 2.0 open specification to authorize your access to our data, and supports AUTHORIZATION_CODE and CLIENT_CREDENTIA…”
   • [claimed-docs] “Connect to your Carta account using pre-built plugins and access fund performance, cap tables, portfolio financials, partner data, and more.”
   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”
   • [claimed-docs] “Retrieve stakeholders. A stakeholder is a person or entity that has been issued a security by an issuer and is, therefore, on the issuer's c…”
   • [claimed-docs] “Retrieve option grants.”
   • [claimed-docs] “Retrieve convertible notes.”
   • [claimed-docs] “A draft option grant is an option grant that is either still being finalized or that has not yet received board consent and approval.”
   • [claimed-docs] “Retrieve the fair market values of an issuer, which are the values of the issuer's securities as determined by the issuer's 409a valuations.”
   • [claimed-docs] “This document explains how to create issuers using Carta’s Draft Issuer API.”
   • [probe] “PROBE openapi: all candidate paths 404 (https://docs.carta.com/openapi.json, https://docs.carta.com/swagger.json, https://docs.carta.com/api…”
   • [probe] “official MCP server documented at https://docs.carta.com/api-platform/guides/guides/claude-mcp-setup/”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence of any public API at all (openapi/swagger probes all 404), so there is no basis to claim API-UI parity; all evidence is marketing/UI feature docs.

   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”
   • [probe] “PROBE docs-md: HTTP 404 at https://www.vestd.com/help.md”

   proof ↗⚑ flag

2. ai-native userExport all of my data in open formats and leave

   weight 3 · round to Carta
   Carta!disputedcontradicted3/10

   Carta's API platform does expose structured data (cap tables, stakeholders, grants, valuations) via REST endpoints, which offers some data access/portability, but there is no documented bulk 'export all data' feature in open formats, and independent reports directly contradict the 'leave' part of the story — founders describe deliberately obstructed cancellation, migration difficulty, and being 'trapped' when trying to move to a competitor. Missing for 10: evidence of a full open-format data export/download feature, and any confirmation that customers can smoothly migrate their full cap table data elsewhere.

   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”
   • [claimed-docs] “Retrieve stakeholders. A stakeholder is a person or entity that has been issued a security by an issuer and is, therefore, on the issuer's c…”
   • [claimed-docs] “Retrieve option grants.”
   • [claimed-docs] “Retrieve convertible notes.”
   • [community] “Carta's cancellation process requires a meeting with a customer success rep before you can cancel, and founders report being unable to sched…”
   • [community] “I'm the founder of Eqvista, a Carta competitor; we've seen significant migrations from Carta due to cost, lengthy 409A valuation timelines, …”
   • [community] “Carta was charging me $8,000 per year. I found an alternative (Cake Equity) with all the features for 10% of the price. It took multiple cal…”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence of any data export feature, open-format export (CSV/JSON/API), or data-portability tooling; the only migration references are for importing existing schemes INTO Vestd, and API probes for OpenAPI/docs endpoints all returned 404. missing for 10: any export functionality, open-format data dumps, or API/CSV export documentation.

   • [claimed-docs] “Migrate to Vestd - Digitise or move your existing scheme”
   • [claimed-docs] “Migrate to Vestd Digitise or move your existing scheme”
   • [claimed-docs] “Migrate to Vestd | Upgrade today”
   • [probe] “PROBE docs-md: HTTP 404 at https://www.vestd.com/help.md”
   • [probe] “PROBE openapi: all candidate paths 404 (https://www.vestd.com/openapi.json, https://www.vestd.com/swagger.json, https://www.vestd.com/api/op…”

   proof ↗⚑ flag

1. ai-native userChoose where my data is stored (region/residency)

   weight 2 · round drawn
   Carta—none0/10

   No evidence in the pack mentions data residency, regional storage options, or data location controls for Carta's platform or API. missing for 10: any mention of region selection, data residency policy, or storage location controls.

   ⚑ flag

   Vestd—none0/10

   No evidence anywhere in the pack discusses data residency, region selection, or data storage location controls; Vestd is described only as a UK-based platform with no mention of configurable data hosting regions.

   ⚑ flag

2. ai-native userControl data retention and deletion

   weight 2 · round drawn
   Carta—none0/10

   No evidence in the pack addresses data retention or deletion controls, privacy policies, or data lifecycle management for AI/MCP integrations; community evidence instead raises concerns about data misuse (e.g., cap table data used for solicitation) without any deletion/retention control mechanism documented. missing for 10: any data retention policy, deletion/export controls, or privacy settings applicable to AI-connected data access.

   • [community] “Carta sales rep reached out unsolicited to a family member/angel investor whose investment was never publicized, at exactly the company's Se…”
   • [community] “Carta announced it would exit its secondary trading business after backlash, but commenters noted this didn't address deeper questions about…”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence in the pack addresses data retention policies, export, or deletion controls for users; Vestd's docs focus on cap tables, share issuance, and data rooms but never mention retention/deletion controls.

   ⚑ flag

3. ai-native userOpt out of telemetry and usage tracking

   weight 2 · round drawn
   Carta—none0/10

   No evidence pack content addresses telemetry opt-out or usage tracking controls for AI-native users; Carta is a cap-table/equity data platform and this specific privacy-posture capability is unaddressed. Missing for 10: any documentation of telemetry/usage-data collection, opt-out mechanisms, or privacy settings related to AI/API usage tracking.

   ⚑ flag

   Vestd—none0/10

   Vestd is an equity/cap-table management SaaS, and no evidence in the pack addresses telemetry, usage tracking, or an opt-out mechanism; this is an applicable privacy-posture axis for any SaaS product but no documentation supports it.

   ⚑ flag

Audit trail

1. ops userEvery change to the cap table is captured in an audit log — who changed what, when, and under what authorization

   weight 1 · round drawn
   Carta—none0/10

   The evidence pack covers API/platform access, OAuth scopes, MCP integrations, and data retrieval endpoints, but nowhere documents an audit log capturing who changed the cap table, when, and under what authorization. No evidence of change-tracking, audit trail, or authorization logging features exists in the pack.

   ⚑ flag

   Vestd—none0/10

   Evidence shows cap table management, data rooms, Companies House filing automation, and board-ready governance/reporting, but nowhere describes an audit log recording who changed what, when, and under what authorization. No mention of change history, versioning, or audit trail features.

   ⚑ flag

Exports

1. ops userExport my complete cap table and full transaction history to open formats (Excel/CSV) at any time — my ownership data is never held hostage

   weight 2 · round to Carta
   Carta!disputedcontradicted4/10

   Carta's API exposes cap table, stakeholder, option grant, convertible note, and FMV data programmatically (carta-docs-18–23) and its data warehouse supports SQL export/queries (carta-docs-17, carta-docs-29), suggesting technical export capability exists. However, this is not the same as an easy self-serve Excel/CSV export — no docs mention a native CSV/Excel export button, and a competitor (Eqvista) and multiple founders report that Carta makes cap table data specifically hard to transfer out and cancellation practically impossible without lengthy rep interactions (carta-comm-5, carta-comm-7), directly contradicting the 'never held hostage' claim. Missing for 10: explicit self-serve CSV/Excel export documentation, independent confirmation that full transaction history (not just current cap table) can be exported, and evidence refuting the migration-friction complaints.

   • [claimed-docs] “It unifies your firm's most critical data—from fund performance and portfolio financials to partner capital accounts—into a single, queryabl…”
   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”
   • [claimed-docs] “Retrieve stakeholders. A stakeholder is a person or entity that has been issued a security by an issuer and is, therefore, on the issuer's c…”
   • [claimed-docs] “Retrieve option grants.”
   • [claimed-docs] “Retrieve convertible notes.”
   • [claimed-docs] “Retrieve the fair market values of an issuer, which are the values of the issuer's securities as determined by the issuer's 409a valuations.”
   • [claimed-docs] “Analysts are free to perform sophisticated, multi-faceted SQL queries and analyses without the friction of integrating disparate data source…”
   • [community] “Carta's cancellation process requires a meeting with a customer success rep before you can cancel, and founders report being unable to sched…”
   • [community] “I'm the founder of Eqvista, a Carta competitor; we've seen significant migrations from Carta due to cost, lengthy 409A valuation timelines, …”

   proof ↗⚑ flag

   Vestd—none0/10

   No evidence pack items mention exporting cap table or transaction history to Excel/CSV, or any data export/portability capability; docs focus on digital cap table management, data rooms, and Companies House filing but never describe self-service export. No API/openapi found either (probes 404), reinforcing lack of open-format export evidence.

   ⚑ flag

Education

1. employeeThe platform explains my equity in plain language — tax treatment, exercise windows, dilution — not just numbers

   weight 1 · round to Vestd
   Carta—none0/10

   Evidence is entirely API/developer-platform documentation (cap tables, FMV calculations, OAuth, MCP plugins) aimed at engineers and integrators, not employee-facing plain-language explanations of tax treatment, exercise windows, or dilution. There is no evidence of an employee-facing UI or educational content that translates equity data into plain language for stakeholders. Missing for 10: employee-facing plain-language equity education content, UI walkthroughs explaining tax treatment/exercise windows/dilution, any hands-on or user testimony about clarity of employee communications.

   • [claimed-docs] “This API can be used to calculate the tax implications of a user exercising their equity.”
   • [claimed-docs] “The formulas below show how to calculate the following outstanding and fully diluted percentages using our Capitalization Table endpoint”
   • [claimed-docs] “Retrieve an issuer's capitalization table by share class.”

   proof ↗⚑ flag

   Vestd~partialclaimed5/10

   Vestd's help docs cover topics like exercising options (mentioning valuation/tax considerations), growth shares explained, and EMI scheme guides, suggesting some educational content exists around equity concepts. However, there's no direct evidence of an employee-facing dashboard or interface that translates an individual's own equity numbers into plain-language tax treatment, exercise window countdowns, or dilution explanations personalized to them — the cited pages are general marketing/help articles, not demonstrated employee UI features. Missing for 10: employee-specific dashboard screenshots/copy showing personalized tax/exercise/dilution explanations, evidence of plain-language framing tailored to non-expert employees, and independent user corroboration.

   • [claimed-docs] “The company's admin user then reviews and processes it, confirming the company valuation and any relevant tax or legal considerations.”
   • [claimed-docs] “In this guide, we cover everything there is to know about growth shares, how to use them and who can have them.”
   • [claimed-docs] “When a recipient is ready to exercise their options, they submit a request through Vestd. The company's admin user then revi”
   • [claimed-docs] “Invite your team.”
   • [claimed-docs] “If you're a UK company issuing options to US taxpayers, you need 409A valuations. Get your 409A valuation from Vestd for a small fee.”

   proof ↗⚑ flag

Exercising

1. employeeExercise my vested options online — including payment and the resulting share issuance — without paper forms

   weight 2 · round to Vestd
   Carta!disputedcontradicted4/10

   Carta's docs only cover API/tax-calculation aspects of exercising equity (e.g., FMV/tax implications endpoint) rather than documenting an employee-facing online exercise-and-payment workflow, but a first-hand community report confirms the feature exists in practice — an employee exercised ~$20k of vested options online — and also documents a concrete failure: a single automated bank transfer failed, overdrafted the user, and Carta then permanently canceled the exercise rights with no retry or warning. This directly contradicts a smooth 'exercise, pay, and receive shares without paper forms' experience. Missing for 10: first-party documentation of the employee exercise portal/workflow itself, evidence of reliable payment handling, and confirmation of automatic share issuance without manual intervention.

   • [community] “After leaving my company I exercised options for ~$20k; six months later Carta attempted a single bank transfer, it failed and overdrafted m…”
   • [claimed-docs] “This API can be used to calculate the tax implications of a user exercising their equity.”

   proof ↗⚑ flag

   Vestd~partialclaimed6/10

   Vestd documents an online exercise workflow: the recipient submits an exercise request through the platform, and the admin reviews/processes it, confirming valuation and tax considerations, after which shares can be issued digitally with Companies House auto-updated (no paperwork for issuance). However, the evidence never explicitly describes an online payment mechanism as part of the exercise flow, and the process still requires manual admin review rather than a fully automated end-to-end flow. Missing for 10: explicit description of in-platform payment collection during exercise, and confirmation that share issuance is automatic/instant post-payment rather than admin-mediated.

   • [claimed-docs] “When a recipient is ready to exercise their options, they submit a request through Vestd. The company's admin user then revi”
   • [claimed-docs] “The company's admin user then reviews and processes it, confirming the company valuation and any relevant tax or legal considerations.”
   • [claimed-docs] “Authorise and issue new shares digitally, and update Companies House in the click of a button. No paperwork involved!”
   • [claimed-docs] “Companies House is automatically updated once shares have been distributed. You don't need to do a thing.”
   • [claimed-docs] “Authorise a share pool and choose a share class, then instantly distribute the equity to one or more recipients.”

   proof ↗⚑ flag

Portal

1. employeeI get my own portal showing my grants, vesting progress, strike price, and what my equity could be worth under different outcomes

   weight 3 · round to Vestd
   Carta—none0/10

   The evidence pack only covers Carta's developer/API platform (OAuth, MCP, cap-table endpoints) and community complaints about sales/cancellation practices; there is no evidence describing an employee-facing portal showing grants, vesting progress, strike price, or scenario-based equity valuation. Missing for 10: any documentation or screenshots of the employee equity dashboard/portal UI, vesting visualization, or outcome-based valuation tool.

   ⚑ flag

   Vestd~partialclaimed4/10

   Vestd advertises a shareholder/employee dashboard ('Invite your team' via shareholder-dashboards page) and an options-exercise workflow where recipients submit requests, implying some self-service portal exists, but there is no evidence describing vesting-progress visualization, strike price display, or scenario/what-if valuation modeling for employees. missing for 10: explicit portal screenshots or docs showing vesting progress bars, strike price display, and outcome/scenario modeling for equity value.

   • [claimed-docs] “Invite your team.”
   • [claimed-docs] “When a recipient is ready to exercise their options, they submit a request through Vestd. The company's admin user then revi”
   • [claimed-docs] “The company's admin user then reviews and processes it, confirming the company valuation and any relevant tax or legal considerations.”
   • [claimed-docs] “In this guide, we cover everything there is to know about growth shares, how to use them and who can have them.”

   proof ↗⚑ flag

International

1. ops userNon-US valuations and schemes — UK HMRC/EMI valuations, country-specific option plans — are supported for my international entities

   weight 1 · round to Vestd
   Carta—none0/10

   The evidence pack covers Carta's API platform, MCP integration, and 409A/FMV endpoints generically, but contains no mention of UK HMRC/EMI valuations, non-US option schemes, or any country-specific plan support for international entities. Missing for 10: any documentation of HMRC/EMI valuation support, non-US equity scheme handling, or international entity-specific compliance features.

   ⚑ flag

   Vestd~partialclaimed5/10

   Vestd is UK-based and clearly supports UK-specific schemes like EMI (scheme setup and granting), CSOPs, growth shares, unapproved options, and SEIS/EIS advance assurance, which are the core 'non-US' UK HMRC-approved plan types. However, evidence is UK-centric only — there's no mention of other countries' option plans or valuations for international entities beyond the UK/US (409A) pairing, and no detail on how HMRC valuations are actually calculated/certified vs just scheme setup. missing for 10: evidence of valuation methodology/certification for HMRC-approved schemes, support for non-UK/non-US jurisdictions' option plans, and any documentation of multi-country entity handling.

   • [claimed-docs] “How your SME can create a qualifying EMI options scheme”
   • [claimed-docs] “How to grant EMI share options”
   • [claimed-docs] “How your SME can create a qualifying EMI options scheme | Vestd”
   • [claimed-docs] “Build growth share schemes with Vestd”
   • [claimed-docs] “Build unapproved option schemes with Vestd”
   • [claimed-docs] “Company Share Option Plans (CSOPs) on Vestd”
   • [claimed-docs] “SEIS/EIS Advance Assurance Application | Vestd”
   • [claimed-docs] “Share valuation | Vestd”

   proof ↗⚑ flag

Us 409a

1. founderOrder an audit-ready 409A valuation in-platform, generated from my live cap table data, and get refreshed valuations on schedule

   weight 3 · round to Vestd
   Carta~partialclaimed3/10

   Docs confirm Carta's platform associates FMV/409A valuation data with the cap table and exposes it via an API endpoint (carta-docs-23, carta-docs-13), implying 409A valuations are a native, cap-table-linked feature, but there is no evidence describing an in-platform ordering flow, audit-ready deliverable, or scheduled refresh cadence. Missing for 10: documentation of the valuation ordering/request workflow, audit-readiness/compliance packaging, and automatic scheduled refresh mechanics.

   • [claimed-docs] “Retrieve the fair market values of an issuer, which are the values of the issuer's securities as determined by the issuer's 409a valuations.”
   • [claimed-docs] “This API can be used to calculate the tax implications of a user exercising their equity.”

   proof ↗⚑ flag

   Vestd~partialclaimed5/10

   Vestd offers a 409A valuation product tied to its cap table platform (vestd-docs-16, vestd-docs-28), but evidence does not confirm it's auto-generated from live cap table data, audit-ready certification, or scheduled/refreshed on a recurring basis. missing for 10: evidence of automated generation from live cap table data, audit-ready/compliance certification details, and scheduled refresh cadence.

   • [claimed-docs] “If you're a UK company issuing options to US taxpayers, you need 409A valuations. Get your 409A valuation from Vestd for a small fee.”
   • [claimed-docs] “Share valuation | Vestd”
   • [claimed-docs] “Digital cap table management No more messy spreadsheets scattered across your team. One source of truth, reconciled.”

   proof ↗⚑ flag