Perfona vs Fundwave

Perfona9.4Visit Fundwave8.7Visit

Higher score Perfona #1 in Fund Administration Software 9.4/10 14-day trial Free trial✓ 5 of 5 features Visit Perfona

vs

Fundwave #8 in Fund Administration Software 8.7/10 Paid ✓ 5 of 5 features Visit Fundwave

• Perfona fits best

  Funds wanting transparent starting pricing

• Fundwave fits best

  Funds with up to 100 investors

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Side by side

Feature	Perfona 9.4/10 Visit ↗	Fundwave 8.7/10 Visit ↗
At a glance
Editor score	9.4	8.7
Ranking	#1 in Fund Administration Software	#8 in Fund Administration Software
Best for	Funds wanting transparent starting pricing	Funds with up to 100 investors
Pricing model	Paid	Paid
Starting price	$500/mo (best)	$800/mo
Free plan	—	Not checked yet
Free trial	14 days	—
Deployment	Cloud	Cloud, Desktop, Mobile
Platforms	Web	Web, iOS, Android
Integrations	3 integrations	3 integrations
Built for	Small business, Mid-market, Enterprise	Small business, Mid-market, Enterprise
Features Perfona 5/5 · Fundwave 5/5
Investor portal	✓	✓
Capital account tracking	✓	✓
NAV workflows	✓	✓
Allocation waterfalls	✓	✓
Capital call workflows	✓	✓
Specs
Investor limit	Not checked yet	100 investors
Our review
Pros	Real-time NAV, accounting, allocations, and waterfall workflows Investor portal includes onboarding, KYC/AML, statements, and reports RESTful APIs, SFTP, and third-party data feeds support integrations	Covers calls, allocations, NAV, accounting, reporting, carry, and waterfalls Investor portal includes secure document rooms and dashboards Role-based access and four-eyes approval workflows support controlled operations
Cons	No free plan is available Investor Technology starts at $1,500 per month The platform is tailored to alternative investment firms, not general accounting	Verified investor limit is 100 Starts at $800 per month Premier support is an add-on to the Enterprise plan
Our verdict	Perfona is a web-based fund administration platform for alternative investment firms, including hedge funds, private equity, real estate, credit, and hybrid funds. It brings together multi-asset, multi-currency accounting, general ledger… Read the review →	Fundwave is a cloud fund-management platform for venture capital, private equity, corporate venture, family office, impact, and fund-of-funds teams. It brings core administration and investor-facing work into one system, including capital… Read the review →

Strengths and trade-offs

• Perfona — where it wins

  • Real-time NAV, accounting, allocations, and waterfall workflows
  • Investor portal includes onboarding, KYC/AML, statements, and reports
  • RESTful APIs, SFTP, and third-party data feeds support integrations

  Where it doesn't

  • No free plan is available
  • Investor Technology starts at $1,500 per month
  • The platform is tailored to alternative investment firms, not general accounting

• Fundwave — where it wins

  • Covers calls, allocations, NAV, accounting, reporting, carry, and waterfalls
  • Investor portal includes secure document rooms and dashboards
  • Role-based access and four-eyes approval workflows support controlled operations

  Where it doesn't

  • Verified investor limit is 100
  • Starts at $800 per month
  • Premier support is an add-on to the Enterprise plan

• Perfona9.4/10 · 14-day trial

  A broad fund administration system with transparent starting prices and a 14-day trial.

  Visit PerfonaFull verdict →
• Fundwave8.7/10 · Paid

  A broad fund-operations platform for teams managing up to 100 investors.

  Visit FundwaveFull verdict →