Alternatives
Equidam alternative: Upswitch for the Benelux
Equidam is a global startup valuation tool aimed at pre-revenue founders and VCs; Upswitch is Benelux-first for SME owners and advisors with 10 methods and accountant integration.
What is it?
Equidam, founded in Italy, offers five methods for pre-revenue and seed-stage startups: Berkus, Scorecard, Venture Capital, Discounted Cash Flow, and the Checklist Method. The tool is popular globally with early-stage founders who want a structured narrative for pitch decks or VC pitches. Its data: sector benchmarks and Damodaran tables: is largely US-derived and English-only.
When Equidam is the right choice
Equidam is the right choice for: (a) pre-revenue startups without SME-style cash flows, (b) founders pitching international VCs in English, and (c) anyone who specifically wants Berkus or Scorecard as the headline. For pre-seed narratives with Anglo-Saxon VCs, Equidam is often a clean fit.
When Upswitch is the right choice
Upswitch is the right choice for: (a) Benelux SMEs with cash flow between €500k and €25m, (b) owners who want to work in Dutch, (c) sectors where local Benelux multiples matter: restaurants, manufacturing, IT services, distribution: and (d) any dossier that must withstand a Belgian or Dutch advisor, bank, or tax-authority review. Upswitch supports 10 methods including EBITDA multiples, DCF, NAV, and SDE, and syncs or imports from Yuki, Exact Online, Silverfin, Octopus, Expert/M, WinBooks, Horus, and Wings.
Feature comparison
| Feature | Equidam | Upswitch |
|---|---|---|
| Primary use case | Pre-revenue and seed-stage startup valuation for founders + VCs | SME and startup valuation for Benelux owners + advisors with up to 10 methods |
| Geographic focus | Global, English-only | Benelux-first, NL + EN |
| Methods supported | 5 startup methods (Berkus, Scorecard, VC, DCF, Checklist) | 10 methods: EBITDA-multiple, DCF, NAV, SDE, ARR, fiscale referentie, startup, liquidatie, omzet-multiple, Upswitch adaptive market approach |
| Sector benchmarks | US-derived comparables and Damodaran tables | Benelux SME deals via Upswitch Multiples Index (183 business types, 16 markets) |
| Accountant integrations | None | Yuki, Exact Online, Silverfin, Octopus, Expert/M, WinBooks, Horus, Wings (sync/import) |
| Audit trail / R&W defensibility | PDF export only | Full provenance log per input, normalisation, and method |
| Starting price | €69/month (Equidam Pro), €329/month (Premium); reduced free tier | Know is free; Grow is €499/year; advisor Starter starts at €1,490/year |
Pricing
Pricing as of 2026: Equidam Pro €69/month, Premium €329/month (per equidam.com, May 2026). Upswitch Know is free, Grow is €499/year, advisor Starter €1,490/year.
Frequently asked
- Does Equidam work for a Belgian or Dutch SME with €5m revenue?
- It can, but the methodology is tuned for pre-revenue startups. For a cash-flow-positive SME you miss EBITDA multiples, NAV, SDE, and Benelux-calibrated sector multiples: four methods that are more relevant to your situation than Berkus or Scorecard.
- Is Upswitch also suitable for pre-revenue startups?
- Yes: Upswitch has its own startup-valuation engine with Berkus, Scorecard, VC method, pre-money discussion, traction signal and Inception lens. Plus the option to switch to EBITDA multiples once you start generating revenue.
- What is the biggest audit-trail difference?
- Equidam delivers a PDF; Upswitch delivers a PDF plus a replayable run with provenance on every input, normalisation, and method. For banks, tax authorities, or R&W claims that is the difference between "trust me" and "look here".
- Can I use both?
- Some founders use Equidam for the pitch-deck narrative and Upswitch for tax and M&A defensibility. Not ideal: two truths: but pragmatic during a transition.