Open Ledger has already signed some contracts, though Yebesi declined to disclose with whom. The company works with SaaS companies, fintech, and banks, that in turn work with small- and medium-sized businesses, he said. The company is still in beta, though it plans to fully release by the end of this month. The company will use the fresh capital to hire, and is looking for talent in product, engineering, and business development.
“We’re putting a lot towards hiring great talent, training great models for financial work internally, and investing a lot in compliance early,” Yebesi said.
Next, he says the company hopes to support at least a 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.”