Best Keel Alternatives in 2026
The top Keel alternatives are Perfona, Ashta.ai and Carta Fund Management: 15 fund administration software our editors would look at instead of Keel, in our ranking order.
Keel: A broad fund administration platform with a free plan and paid tiers for scaling managers. Where it falls short: multi-fund capabilities are reserved for higher tiers.
Switching from Keel? For most fund administration software buyers the best Keel alternative is Perfona, built for funds wanting transparent starting pricing. Fundwave offers the most investor limit (100 investors).
Why People Look for a Keel Alternative
- Multi-fund capabilities are reserved for higher tiers
- Plaid is the listed integration
- Paid plans scale to $6,000 per month
- Paid from $3,500/mo — Perfona is $500/mo
Quick Picks by What You Need
- Best overallPerfona9.4
Funds wanting transparent starting pricing
Visit Perfona - Lowest pricePerfona9.4
Paid plans from $500/mo
Visit Perfona - Most investor limitFundwave8.7
100 investors
Visit Fundwave
All 15 Keel Alternatives, Ranked
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.
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Best forFunds wanting transparent starting pricing
- Better than Keel:
- Paid from: $500/mo vs $3,500/mo
- Editor score 9.4 vs 9.3
A broad fund administration system with transparent starting prices and a 14-day trial.
- NAV workflows
- Allocation waterfalls
- Investor portal
9.4/10★★★★★Visit Perfona -
Best forFull-service fund administration teams
A broad fund-operations platform for teams managing complex investor and accounting workflows.
- NAV workflows
- Allocation waterfalls
- Investor portal
9.2/10★★★★★Visit Ashta.ai -
Best forEstablished funds needing administrator support
A fund administration suite combining accounting, investor workflows, analytics, and administrator support.
- Allocation waterfalls
- Investor portal
- Capital account tracking
9.1/10★★★★★Visit Carta -
Best forMobile-first fund managers and administrators
- Better than Keel:
- Paid from: $625/mo vs $3,500/mo
A mobile-first platform covering fund accounting, investor workflows, NAV, and SPV administration.
- NAV workflows
- Allocation waterfalls
- Investor portal
9.0/10★★★★☆Visit aama.io -
Best forComplex multi-level fund operations
A broad operating layer for complex fund structures, accounting, workflows and reporting.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.9/10★★★★☆Visit Sciforn -
Best forFunds needing integrated accounting and NAV
An integrated platform for fund accounting, NAV, investor workflows and back-office administration.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.8/10★★★★☆Visit Formidium -
Best forFunds with up to 100 investors
- Better than Keel:
- Paid from: $800/mo vs $3,500/mo
A broad fund-operations platform for teams managing up to 100 investors.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.7/10★★★★☆Visit Fundwave -
Best forFunds needing broad accounting integrations
A broad private-equity administration platform with accounting integrations and sales-led pricing.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.6/10★★★★☆Visit site -
Best forFunds needing reconciliation and liquidity analysis
Configurable fund-operations software for NAV, reconciliation, liquidity, and investor workflows.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.5/10★★★★☆Visit fundflow -
Best forAustralian fund and trust structures
A broad web platform for Australian and New Zealand fund operations.
- Allocation waterfalls
- Investor portal
- Capital account tracking
8.4/10★★★★☆Visit Ventari -
Best forComplex multi-entity fund structures
Fund administration for complex structures, allocations, reporting, and investor workflows.
- Allocation waterfalls
- Investor portal
- Capital account tracking
8.3/10★★★★☆Visit Entrilia -
Best forFunds wanting configurable reporting
A configurable platform for fund accounting, investor workflows, reporting, and capital operations.
- Allocation waterfalls
- Investor portal
- Capital account tracking
8.2/10★★★★☆Visit Ark -
Best forFunds needing formation through administration
A broad fund administration platform with self-serve, assisted, and managed operating models.
- NAV workflows
- Allocation waterfalls
- Investor portal
8.1/10★★★★☆Visit Caproom -
Best forInternational investor operations
A broad administration platform for international private-fund investor operations.
- NAV workflows
- Investor portal
- Capital account tracking
8.0/10★★★★☆Visit Basis -
Best forSmaller multi-entity funds
A broad fund-operations platform for smaller multi-entity funds with up to 50 investors.
- NAV workflows
- Allocation waterfalls
- Investor portal
7.9/10★★★★☆Visit PoliBit
Keel Alternatives: Common Questions
What is the best alternative to Keel?
Perfona: #1 in our Fund Administration Software ranking, with an editor score of 9.4 out of 10. A broad fund administration system with transparent starting prices and a 14-day trial.
What is the cheapest paid alternative to Keel?
Of the alternatives here that publish a price, Perfona starts lowest, at $500/mo.
Why do people look for Keel alternatives?
Multi-fund capabilities are reserved for higher tiers; Plaid is the listed integration; Paid plans scale to $6,000 per month.
Which Keel alternative has the most investor limit?
Fundwave, with 100 investors.
How do I switch from Keel?
Export your data from Keel (most tools have an export in their settings). Sign up for the alternative; start on its free plan or trial if it has one. Import your export and set up the integrations your team relies on. Run both side by side for a short while, then cancel Keel.
How to Switch from Keel
- Export your data from Keel (most tools have an export in their settings).
- Sign up for the alternative; start on its free plan or trial if it has one.
- Import your export and set up the integrations your team relies on.
- Run both side by side for a short while, then cancel Keel.
Keel vs Each Alternative
| # | Tool | Free plan | Paid from | Investor portal | Capital account tracking | NAV workflows | Allocation waterfalls | Capital call workflows | Score |
|---|---|---|---|---|---|---|---|---|---|
| 2 | Keel | Yes | $3,500/mo | Yes | Yes | Yes | Yes | Yes | 9.3 |
| 1 | Perfona | No | $500/mo | Yes | Yes | Yes | Yes | Yes | 9.4 |
| 2 | Ashta.ai | No | Yes | Yes | Yes | Yes | Yes | 9.2 | |
| 3 | Carta Fund Management | No | Yes | Yes | Yes | Yes | 9.1 | ||
| 4 | aama.io | No | $625/mo | Yes | Yes | Yes | Yes | Yes | 9.0 |
| 5 | Selene | Yes | Yes | Yes | Yes | Yes | 8.9 | ||
| 6 | Formidium | Yes | Yes | Yes | Yes | Yes | 8.8 | ||
| 7 | Fundwave | $800/mo | Yes | Yes | Yes | Yes | Yes | 8.7 | |
| 8 | Relevant EquityWorks | No | Yes | Yes | Yes | Yes | Yes | 8.6 | |
| 9 | fundflow | Yes | Yes | Yes | Yes | Yes | 8.5 | ||
| 10 | Ventari | Yes | Yes | Yes | Yes | 8.4 | |||
| 11 | Entrilia | Yes | Yes | Yes | Yes | 8.3 | |||
| 12 | Ark | Yes | Yes | Yes | Yes | 8.2 | |||
| 13 | Caproom | No | Yes | Yes | Yes | Yes | Yes | 8.1 | |
| 14 | Basis | Yes | Yes | Yes | Yes | 8.0 | |||
| 15 | PoliBit | No | Yes | Yes | Yes | Yes | Yes | 7.9 |
Head-to-Head
- Keel vs Perfona
- Keel vs Ashta.ai
- Keel vs Carta Fund Management
- Keel vs aama.io
- Keel vs Selene
- Keel vs Formidium
Reviewed by iTechGuides Editors · Editorial team · Updated Oct 2026
Last updated · How we research and update