Pryce Yebesi: A Young Visionary on a New Mission
At just 24, Pryce Yebesi has already made significant strides in the tech world. Having sold his crypto invoicing startup, Utopia Labs, to Coinbase for an undisclosed amount, he’s not one to rest on his laurels. Some entrepreneurs have more than one great idea in them, and Yebesi is proving to be one of them.
Introducing Open Ledger: A New Venture
This past Monday, Yebesi announced his latest venture—Open Ledger. This innovative company aims to transform the way enterprises and small businesses handle accounting by embedding automated accounting software into the tools they already use. With an impressive $3 million raised in a funding round led by Kindred Ventures and Blank Ventures, Yebesi is off to a promising start.
“When we built invoicing products at Utopia, we saved our customers 70-80% of the time they spent on accounting tasks. That experience led me to realize the need for more extensible and embedded accounting solutions,”
— Pryce Yebesi
Inspiration Behind Open Ledger
While still at Utopia Labs as the chief product officer, Yebesi noticed a recurring issue: businesses were stuck using outdated accounting software. This insight sparked the idea for Open Ledger—a modular, AI-driven accounting tool that seamlessly integrates into existing workflows.
A Collaborative Effort
Yebesi partnered with Ashtyn Bell, who was then immersed in AI research at a venture capital firm and had previously led product at Candy Digital. Together, they launched Open Ledger, offering embeddable components, APIs, and a ledger database that facilitates AI-driven categorization, reconciliation, and financial reporting.
“Open Ledger aggregates and orchestrates every data source for companies, then allows AI to execute accounting functions with full financial context.”
— Pryce Yebesi
A Competitive Edge in the Market
Though legacy players like QuickBooks dominate this space, and startups like Layer and Teal are emerging competitors, Yebesi believes Open Ledger has reimagined the financial transaction data layer. Their unique approach minimizes context limits, latency, and security issues while allowing databases to interact with LLMs without exposing consumer data.
Smooth Sailing on the Fundraising Front
Yebesi described the fundraising process as smooth sailing. Kindred Ventures, a lead investor from Utopia’s pre-seed round, joined forces with other notable investors such as Adventure Fund and Jonathan Chang from Brex. Open Ledger has already secured contracts with SaaS companies, fintech firms, and banks working with small- and medium-sized businesses.
Looking Forward: Expansion and Growth
The company is still in beta but plans a full release by month’s end. With fresh capital at its disposal, Open Ledger is focused on hiring talent in product development, engineering, and business development. Yebesi aims to support at least a million end users by year’s end while maintaining a lean team.
“We’re putting a lot towards hiring great talent, training great models for financial work internally, and investing a lot in compliance early.”
— Pryce Yebesi
The Road Ahead
Yebesi’s vision for Open Ledger is clear: help thousands of small businesses spend more time with their customers and less time closing their books. With an ambitious plan set in motion and a robust team behind him, Pryce Yebesi continues to be a young visionary worth watching.
