Perfona vs Keel

Perfona9.4Visit Keel9.3Visit

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

vs

Keel #2 in Fund Administration Software 9.3/10 Free plan · 30-day trial Free planFree trial✓ 5 of 5 features Visit Keel

• Perfona fits best

  Funds wanting transparent starting pricing

• Keel fits best

  Funds prioritizing a free starting plan

Advertiser disclosure: iTechGuides is reader-supported. Vendors can pay for top positions in our rankings and for a place on other products' pages, and we may earn a commission when you click some links. Bought places stand at the number bought; this page and our disclosure say so. Paying vendors may get a fuller, more detailed review from our editors, and that review can change their score. How we rank.

Side by side

Feature	Perfona 9.4/10 Visit ↗	Keel 9.3/10 Visit ↗
At a glance
Editor score	9.4	9.3
Ranking	#1 in Fund Administration Software	#2 in Fund Administration Software
Best for	Funds wanting transparent starting pricing	Funds prioritizing a free starting plan
Pricing model	Paid	Free plan + paid
Starting price	$500/mo (best)	$3,500/mo
Free plan	—	✓ (best)
Free trial	14 days	30 days
Free trial length	14 days	30 days · card required
Deployment	Cloud	Cloud
Platforms	Web	Web
Integrations	3 integrations	1 integrations
Built for	Small business, Mid-market, Enterprise	Small business, Mid-market, Enterprise
Features Perfona 5/5 · Keel 5/5
Investor portal	✓	✓
Capital account tracking	✓	✓
NAV workflows	✓	✓
Allocation waterfalls	✓	✓
Capital call workflows	✓	✓
Specs
Investor limit	Not checked yet	Not checked yet
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	Free plan with a 30-day free trial Covers capital calls, waterfalls, NAV, reporting, and tax support Investor portal with capital accounts, statements, and analytics
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	Multi-fund capabilities are reserved for higher tiers Plaid is the listed integration Paid plans scale to $6,000 per month
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 →	Keel is a cloud fund-administration platform for private-equity, venture-capital, family-office, search-fund, and independent investment managers. Its feature set covers investor onboarding, KYC, commitments, capital calls, bank… 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

• Keel — where it wins

  • Free plan with a 30-day free trial
  • Covers capital calls, waterfalls, NAV, reporting, and tax support
  • Investor portal with capital accounts, statements, and analytics

  Where it doesn't

  • Multi-fund capabilities are reserved for higher tiers
  • Plaid is the listed integration
  • Paid plans scale to $6,000 per month

• Perfona9.4/10 · 14-day trial

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

  Visit PerfonaFull verdict →
• Keel9.3/10 · Free plan · 30-day trial

  A broad fund administration platform with a free plan and paid tiers for scaling managers.

  Visit KeelFull verdict →