A 24-year-old who left his first company at Coinbase is raising $3M for his next venture.

At 24, Pryce Yebesi already has an exit: he is selling his cryptocurrency company Utopia Labs to Coinbase for an undisclosed amount.

Some founders don’t just have a company in them. On Monday, Yebesi announced the launch of his new company, Open Ledgerwhich incorporates automated accounting software into the products businesses and small businesses already use. It has already raised $3 million in a round led by Kindred Ventures.

Yebesi said he came up with Open Ledger while working at Utopia Labs, where he was the product manager. He said he realized the companies he worked with were still using outdated accounting software.

“When we built the invoicing products in Utopia, we saved our clients 70-80% of the time they spend on accounting activities. This experience led me to understand the need for more extensible and integrated accounting solutions” , Yebesi told TechCrunch. “Open Ledger is our answer to this challenge. A modular accounting tool, driven by AI, that lives where our customers already work.”

After his company left, he served as entrepreneur-in-residence at Washington University in St. He worked with small businesses and saw that other founders had the same problems with accounting software. He partnered with Ashtyn Bell—who was working at a venture capital firm at the time and previously led a product at Candy Digital—to launch Open Ledger.

The company offers accounting functions in the form of embedded components, APIs, and a ledger database, which enables AI-driven categorization, reconciliation and financial reporting, Yebesi said. “Open Ledger aggregates and orchestrates any data source for businesses, then enables AI to perform accounting functions with full financial context.”

There are already some legacy players in this space, such as QuickBooks, or other startups such as Layer and Teal. “What is special about our approach is that we have reimagined the data layer of financial transactions,” said Yebesi.

He said he and the team spent seven months developing data specifically to be used to allow transactional data databases to interact with LLM without exposing consumer data to underlying models. “With this, we are to minimize context limits, latency and security issues,” he said.

Yebesi called fundraising smooth, and said that Open Ledger met with Kindred, its main investor, because the company invested in the pre-seed round in Yebesi’s previous company, Utopia. Other investors include Adventure Fund, Johnathan Chang from Brex, Guy Friedman, CEO of SteadyMD, and Zach Abrams, who just sold his company Bridge to Stripe for a cool billion.

Open Ledger has already signed some contracts, although Yebesi declined to disclose with whom. The company works with SaaS companies, fintechs and banks, which in turn work with small and medium-sized businesses, he said. The company is still in beta, although it plans to fully release it at the end of this month. The company will use fresh capital to hire, and is looking for talent in product, engineering and business development.

“We put a lot into hiring great talent, training great models for financial work internally, and investing heavily in early compliance,” said Yebesi.

Next, he says the company hopes to support at least one million end users by the end of this year. “Keep a lean team,” he said. “And help thousands of small businesses spend more time with their customers and less time closing their books.”

This piece has been updated to reflect the spelling of Open Ledger and Ashytn Bell‘s previous work experience.