A spreadsheet records your raise. It can't enforce it.
A spreadsheet and a shared drive are how most operators start: free, flexible, and familiar. Mownt is the compliance-first operating system for when the raise has to hold up: server-side 506(b)/506(c) gating, the non-accredited cap counted automatically, and an append-only audit ledger.
Spreadsheets are how most operators start: free, flexible, and familiar. But a spreadsheet can't stop a non-accredited investor over the cap, can't enforce the 506(b) 30-day clock, and can't prove the trail wasn't edited. Mownt is a capital-raise compliance OS that enforces those rules server-side and writes an append-only audit ledger. Choose a spreadsheet to start; choose Mownt when the raise has to hold up.
Seven dimensions worth comparing.
| Feature | Mownt | Spreadsheet |
|---|---|---|
| Compliance enforcement | Server-side 506(b) 30-day gate, 506(c) workflow, non-accredited cap counted automatically | Rules tracked by hand and enforced by discipline |
| Audit trail | Append-only, hash-chained ledger, exportable for your counsel or the SEC | Editable cells; version history is best-effort |
| Concurrent-solicitation lock | Platform-level lock prevents 506(b) and 506(c) solicitation that would taint an exemption | Not possible in a spreadsheet |
| Pipeline + deal pages | Investor pipeline, branded deal pages, soft commits, and a document vault | Tabs and a shared drive |
| Reaching new investors | Run your own Meta and LinkedIn campaigns as advertiser of record (506(c)); compliant email nurture | No built-in outreach |
| Cost | A flat software subscription | Free, plus the cost of a mistake it can't prevent |
| Best suited for | Operators running real 506(b)/506(c) raises | A first informal raise among close contacts |
When the raise is small, informal, and among people you know.
For a first, informal raise among a handful of close contacts, a spreadsheet is genuinely fine. It's free, it's already open, and there's nothing to set up. If you aren't advertising, aren't near the non-accredited cap, and are comfortable being the enforcement layer yourself, the lightweight option is the reasonable one.
When compliance has to be enforced, not tracked by hand.
The moment you advertise, approach the non-accredited cap, or raise from people outside your immediate circle, the spreadsheet becomes the single point of failure. Mownt gates who can commit, enforces the 30-day clock and the non-accredited cap server-side, locks concurrent 506(b)/506(c) solicitation, and writes every event to an append-only, hash-chained ledger you can hand to your counsel or the SEC.
Which fits your raise right now?
- Your raise is a handful of close contacts you already have a relationship with
- You aren't advertising and aren't near the non-accredited cap
- You want zero cost and zero setup for a one-off, informal raise
- You're comfortable being the manual enforcement layer yourself
- You want server-side enforcement so a misclick can't taint the exemption
- You want an append-only audit trail you can hand to counsel or the SEC
- You're reaching new investors with ads or nurture and need it scoped to 506(c)
- You want pipeline, deal pages, and the audit trail in one system
Apply for early access, and we'll send the tier breakdown.
Tell us a bit about your raise. We'll send the tier that fits and the rate at the same time. No sales cycle.