The Short Answer
FoundryHouse
For European startups: FoundryHouse. It was built for EU entity types, EU data residency, and European company law from day one.
Carta
For US companies raising from US VCs: Carta remains the dominant tool in the US market and integrates tightly with US VC workflows.
Carta is the most widely recognized cap table management tool in the world. When a European founder raises their first round, they often hear "just use Carta" from US-educated advisors. The problem: Carta was built to manage Delaware C-Corps, SAFE notes, and US VC fund administration. European companies operate under fundamentally different legal frameworks — Norwegian aksjeloven, Swedish aktiebolagslagen, Dutch BV law, German GmbH-Gesetz — and the compliance gap is significant.
Feature Comparison
| Feature | FoundryHouse | Carta |
|---|---|---|
| EU entity types | AS, AB, BV, GmbH, Ltd (native support) | Delaware C-Corp optimized; EU as add-on |
| Data residency | EU by default | US by default; EU tier available (Enterprise) |
| GDPR compliance | Built-in, DPA available to all customers | Available; requires configuration |
| eIDAS-compliant signing | Yes, out of the box | No (uses US-standard e-sign) |
| Cap table management | Yes | Yes (market leader) |
| Board management | Yes (included) | Carta Board (separate product, higher tier) |
| OKR tracking | Yes | No |
| Investor relations | Yes | Carta Portfolio (VC-facing, not founder-facing) |
| ESOP management | Yes, EU-compliant option agreements | Yes (US-centric templates) |
| Seed-stage pricing | Yes | Yes (free for small cap tables) |
| US VC fund administration | No | Yes (core Carta product) |
| Language | Norwegian, Swedish, English | English only |
Data Residency Is an Opt-In, Not a Default
Carta stores data on US infrastructure by default. For EU companies processing personal data of European employees, investors, and shareholders, this creates immediate GDPR exposure. The EU data residency option is only available at Enterprise pricing tiers — inaccessible to most seed and Series A companies. FoundryHouse stores all data on EU infrastructure by default. No configuration required.
Legal Templates Are Delaware-Centric
Carta's built-in document templates — option agreements, shareholder agreements, board resolutions — are drafted for US corporate law. A Norwegian AS cannot use a VSOP agreement designed for an ISO stock option under US tax law. FoundryHouse provides legal templates for each supported entity type (AS, AB, BV, GmbH, Ltd), drafted under local law requirements.
No eIDAS-Compliant Signing
Carta uses DocuSign or its own signing product — both US electronic signature standards. For EU legal proceedings, documents signed under US e-sign standards may not meet eIDAS requirements. FoundryHouse's integrated e-signing meets eIDAS qualified electronic signature requirements out of the box.
Board Management Is a Separate, Expensive Product
Carta Board is a separate product tier, not included in cap table management. For European companies that need integrated governance, Carta requires purchasing and integrating two separate products. FoundryHouse includes board meeting management, resolution tracking, and minute-keeping as part of the core platform.
Where Carta Remains the Better Choice
US VC fund administration: If your lead investors are US VC funds that manage their portfolio through Carta's fund admin platform, there are real network effects in staying on Carta. Series B and beyond with US investors: Carta's cap table sophistication for complex waterfall calculations, 409A valuations, and tender offer management is unmatched. US-listed or Delaware-incorporated entities: If your company is incorporated in Delaware, Carta is purpose-built for your legal structure.
Frequently Asked Questions
FAQ — English
- Is FoundryHouse a direct alternative to Carta for European startups?
- Yes. FoundryHouse covers the same core use cases — cap table management, ESOP administration, investor reporting — with EU-native compliance built in. It also extends into board management and OKR tracking, which Carta does not cover in its standard product.
- Can I use Carta if I am a Norwegian or Swedish company?
- Yes, technically. But you will need to configure EU data residency (requires an Enterprise plan), use custom legal templates instead of Carta built-in ones, and manage eIDAS signing compliance separately. The total compliance overhead makes this significantly more expensive and complex than using a EU-native tool.
- Which investors prefer Carta?
- US VC funds, particularly those using Carta fund administration product, prefer Carta for portfolio visibility. Nordic and European VCs generally do not require a specific cap table tool and will accept any properly formatted cap table export.
- Is FoundryHouse free like Carta basic tier?
- FoundryHouse has seed-stage pricing designed for early companies. Contact for current pricing details.
FAQ — Norsk
- Hva er forskjellen mellom FoundryHouse og Carta?
- Carta er bygget for amerikanske selskaper med Delaware-struktur. FoundryHouse er bygget for europeiske selskaper — med støtte for AS, AB, BV og GmbH, EU-dataplassering som standard, og eIDAS-kompatibel signering uten ekstra konfigurasjon.
- Trenger jeg Carta dersom investorene mine er norske eller nordiske?
- Nei. Nordiske og europeiske investorer krever ikke Carta og aksepterer eksport fra ethvert kapitalstrukturverktøy med riktig formatering. Carta gir nettverkseffekter primært for amerikanske VC-fond som bruker Carta sitt fondsadministrasjonssystem.
- Er FoundryHouse GDPR-kompatibelt?
- Ja. Alle data lagres på europeisk infrastruktur som standard. FoundryHouse tilbyr databehandleravtale til alle kunder, ikke bare Enterprise-kunder.
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