Arrhis compared with Papermark
Papermark is an open-source tool for sharing documents and data rooms with viewer analytics, available as a hosted service or to run yourself. It is a good option if you want control over where your documents live. The difference with Arrhis is that we connect to your billing, bank and analytics accounts instead of relying on uploaded files, and we built the flow around the stages of selling a business.
The short version
Papermark shares documents you upload and shows how they are viewed. Arrhis pulls numbers from Stripe, Mercury and Google Analytics with read-only access, labels each one with its source, reconciles payouts with deposits, and unlocks sensitive data per buyer by deal stage.
Side by side
| Arrhis | Papermark | |
|---|---|---|
| Built for | Selling a small online business: one room per sale, one link per buyer, three disclosure stages. | Sharing documents and data rooms with analytics, across fundraising, sales and deals. Open source, with a hosted version. |
| Where numbers come from | Read-only connections to Stripe, Mercury and Google Analytics, plus files you upload. Every number is labelled with its source: From Stripe, From Mercury, From Google Analytics, or Uploaded by seller. | Documents you upload. Financial figures are as reliable as the files they are in. |
| NDA before access | Each buyer verifies their email and signs the NDA in the page before seeing anything beyond the teaser. The signed copy is stored against that buyer. | Offers an agreement step before viewing. Check their current feature list for how it works. |
| Staged disclosure | Per buyer: 1 teaser, 2 NDA signed, 3 LOI signed. Customer names and bank statements stay locked until you mark the buyer LOI signed. | Access is set per link or per data room. Tying access to deal stages is something you manage yourself. |
| Viewer activity | Per buyer: which sections and files they opened, and for how long. | Page-by-page analytics on shared documents. |
| File protection | View-only in the browser, with a tiled watermark showing the buyer's email, the time and the room ID. | Offers controls such as email verification, download settings and watermarking. Check which plans include which controls. |
| Payout reconciliation | Stripe payouts matched to bank deposits by exact amount within three days. Unmatched items are listed with your explanation. | Not part of the product. You would reconcile in a spreadsheet and upload the result. |
| Pricing model | One-time room pass per sale. No auto-renewal. | See Papermark's site for current plans, including self-hosting. |
What Papermark does well
- Open source, so you can inspect the code and run it on your own infrastructure.
- Custom branding and domains, useful for advisors who want rooms under their own name.
- General-purpose document sharing that works beyond a single business sale.
When Papermark is the better choice
- You want to self-host, or your organization requires open-source tools.
- Your data room is mostly documents rather than figures a buyer needs to verify.
- You already use it for other document sharing and want one tool.
Where Arrhis is different
- Numbers come from the source, and say so
- Sellers connect Stripe with a read-only restricted key, Mercury with a read-only token, and Google Analytics with read-only access. Revenue, payouts, deposits and traffic are pulled from those systems, and every figure is labelled From Stripe, From Mercury, From Google Analytics, or Uploaded by seller. Buyers can tell evidence from claims at a glance.
- Disclosure follows the deal
- Each buyer moves through three stages: the teaser, then everything covered by the NDA once they sign it, then customer names and bank statements once you mark their LOI signed. You never have to rebuild folders or permissions to keep a new buyer away from sensitive data.
- One NDA per buyer, signed in the page
- The buyer verifies their email and signs before seeing anything past the teaser. You get a record of who signed, when, and exactly what they looked at afterwards.
- Payouts reconciled with deposits
- Stripe payouts are matched to bank deposits by exact amount within three days. Unmatched items are listed with your explanation, which answers one of the first questions a careful buyer asks.
A room pass is a one-time purchase per sale, priced by asking price, with no auto-renewal. See pricing.
Further reading
- What to put in a data room when selling a SaaSThe folders, files and numbers buyers expect when you sell a small SaaS, what to hold back until LOI, and how to keep every number verifiable.
- The SaaS due diligence checklist buyers actually useWhat buyers check before acquiring a small SaaS: financials, revenue quality, tech, legal and IP, operations and customers, with what good looks like.
- How to create a read-only restricted key in StripeStep by step: create a Stripe restricted key with read-only access for due diligence, which permissions to grant, and how to delete it afterwards.
See it with a buyer's eyes
Open the demo room to go through the teaser, the NDA and the verified dashboard the way a buyer would, or start a room for your own sale.