Firstbase vs. Stripe Atlas 2024

When choosing an incorporation service, it's important to understand the key differences in what they offer. Firstbase.io and Stripe Atlas take distinct approaches to company formation, ongoing support, etc.

Firstbase provides formation services for LLCs and C corps in more states, allowing you to form your company in Delaware, Wyoming, or 32 other states. 

Stripe Atlas focuses exclusively on Delaware. This gives you more flexibility with Firstbase if you want to form your business outside of Delaware.

Stripe Atlas doesn't mention the ability to open a bank account without an Employer Identification Number (EIN). In contrast, Firstbase promotes this unique feature, stating that startups can open a business bank account without an EIN, though this is subject to approval by their partner, Mercury. This can be a significant advantage, especially for non-US founders who might face difficulties or delays in obtaining an EIN.

Stripe Atlas charges $500 as a setup fee, which includes forming a company in Delaware, providing templates, filing tools, and a Stripe account, among other features. 

On the other hand, Firstbase's startup package is priced at $399 and includes business formation in multiple states, expedited EIN setup, deals and rewards worth over $200,000, and lifetime expert support. Considering the wider range of services and the lesser cost, Firstbase seems to provide more value for money in this regard.

While Stripe Atlas boasts endorsements from renowned VCs and provides templates trusted by top investors, Firstbase offers a unique feature called Firstbase Discovery. This feature allows startups to be visible to a network of VCs as potential investment opportunities. By opting into the discovery program, startups enhance their chances of being noticed and funded by interested venture capitalists.

While Firstbase and Stripe Atlas take different approaches in some areas, they share some core similarities when it comes to company formation.

Both platforms provide online applications to form an LLC or C corp quickly and smoothly. You can complete the application in around 10 minutes with either service. You provide basic company details and founder information, then the platform handles the legal paperwork and filings behind the scenes.

Stripe Atlas and Firstbase both assist with obtaining a US Employer Identification Number (EIN), which is essential for tax purposes and other business activities.

Both services extend beyond just company formation. Stripe Atlas users can access Stripe’s range of financial tools, including Billing, Capital, Connect, and more. Firstbase provides automated compliance reminders, access to a dashboard for documents, self-serve tax forms pre-filled with the company's information, and more.

Overall, most of the reviews for Firstbase.io are positive, with customers praising the platform for its ease of use, reliability, and helpful customer support. They also appreciate the transparency of their pricing and the comprehensive features it offers for business incorporation and compliance.

There were a few complaints about slower response times for customer support inquiries, but it seems that Firstbase.io is quick to address any issues raised and make improvements based on user feedback.

Here are some verified Firstbase reviews (from Trustpilot) by customers who used this formation service to help launch their business:

“Firstbase is the perfect partner for a new entrepreneur, especially when you're incorporating in the US as a foreign national. Super easy to use, they guide you through the process step by step and leave nothing to guesswork. The platform is intuitive and helps to keep on top of all the moving parts. Pricing is also very reasonable so no complaints at all. Great service, great product.”

“They were within the time frames and everything was done as they advertised. My small complaint would be that their support times aren't perfect as they might even reply back after 3 days. A live chat support or quicker times for customers would be appreciated.”

“Firstbase allowed me to register a business in the US easily and quickly. Their automated forms guided me through the entire process clearly. Moreover, they have an automated service to automatically submit tax forms and other documents.” 

Stripe Atlas reviews are more of a mixed bag. Many customers had a positive experience, praising the speed and ease of incorporating their business through the service. Some noted the reasonable pricing and value provided by Atlas as an all-in-one solution for company registration.

However, others complained about poor communication and generic copy-pasted responses from the support team that failed to address their problems. Some felt the incorporation process was too rigid and inflexible when they hoped for more customization options.

Here are some verified Stripe Atlas reviews (from Trustpilot) by customers who used this formation service to help launch their business:

“I have been amazed by Stripe. The fees formula is very attractive. Their staff is very friendly and replies quickly to the questions I emailed to them. At the end, I found they also have a program called Stripe Atlas that helps people form a US LLC or C Corporation with many benefits along. Check it out. That's just amazing. I [recommended] Stripe to my entourage, as a businessman, and now I [recommend] it online to everyone.”

“Great service to accept online payments. User Interface is amazingly simple and interactive. App is good. The only bad experience I had is with Stripe Atlas — their service for registering a company on your behalf in [the] US. I remember, I applied to Stripe Atlas on their website and never got a reply back from them. Seems they have a strict criteria for on-boarding companies with Atlas.”

“My expectation was that I am part of the Stripe customer base but it turns out that Stripe Atlas is a separate customer group and I get referred to the Atlas part every time. I get the feeling I am being tossed around like when I deal with governmental organizations. Why is Stripe sending me email solicitations if I have to deal with Atlas. This just wastes my time.”

Pricing and included features are key considerations when comparing Stripe Atlas and Firstbase. Here's a quick overview of what each platform offers:

Pricing: $500 one-time fee

• LLC or C corp formation in Delaware
• First year registered agent service included ($100/year after)
• Issuance of stock to founders
• 83(b) election filing
• Stripe payment integration
• Access to Stripe Atlas community

Pricing: $399 one-time fee

• LLC or C corp formation in 34 states
• $99/year automated compliance and registered agent service
• Banking services without EIN
• Lifetime support from experts
• Tax ID (EIN) retrieval
• $350,000 in deals/rewards
• Free tax consultation

When it comes to ongoing costs, Firstbase provides registered agent services starting at $99 per year. Stripe Atlas charges $100 per year for just a Delaware registered agent after the first free year.

For features, Stripe Atlas focuses on serving tech startups with tools to issue stock and integrate Stripe payments. Firstbase offers a wider range of business services beyond just incorporation, like banking, mailing, and exclusive partner perks.

All things considered, Firstbase provides more affordable formation and ongoing compliance services with a broader range of included features. But Stripe Atlas offers specialized fintech resources that may benefit some startups.

When it comes to choosing the right incorporation service for your new business, there are good options both in Stripe Atlas and Firstbase.io. Though they take slightly different approaches, both platforms aim to make starting your company straightforward and cost-effective.

Tech startups fitting the traditional funding mold may gravitate toward Stripe Atlas. Everyday entrepreneurs and small business owners may appreciate the compliance guidance and wide range of tools Firstbase provides. Ultimately, the ideal service comes down to your specific business needs.

Recommended: Incorporate your startup with Firstbase ($399 one-time fee)