Alternative Payments, a fully-integrated B2B payments and checkout infrastructure provider, has closed on $22 million in total funding, with rounds led by MissionOG and Third Prime, respectively. The investments will advance the company’s mission to digitize and automate B2B payment workflows for industries historically overlooked by fintech innovation.
The capital will accelerate the development of autonomous payment solutions and grow staffing. Alternative Payments is focused on digitally transforming underserved industries, such as IT service providers, managed services providers, and blue-collar industries — sectors that have long relied on outdated systems to manage accounts receivable and payable, to access merchant services, and to offer client-facing financing. Its turnkey, automated platform delivers an alternative to legacy payments and financing providers.
Alternative Payments said it is addressing longstanding B2B payment challenges, such as delayed invoice processing, poor invoice deliverability, reliance on paper-based systems, and cross-border friction. The company said it has reduced days sales outstanding by 40-50% for its customer base, by empowering businesses to automate historically manual workstreams and prioritize faster settlement and global accessibility.
“Innovation in payments is a powerful catalyst for growth, especially in these uncertain times,” said Baxter Lanius, CEO of Alternative Payments. “By accelerating how and when businesses get paid, we’re not just improving cash flow—we’re unlocking greater efficiency, stability, and confidence for companies around the world. This raise marks an exciting new chapter for Alternative Payments, allowing us to scale our impact, expand globally, and continue building the infrastructure that will define the future of seamless, secure payments for underserved industries.”
“We’re excited to partner with the Alternative Payments team as they bring modern, autonomous payment solutions to B2B sectors often ignored by legacy providers. Their focus on automation, ease of use, and advanced analytics positions them to lead the transformation in how businesses manage payments and cash flow,” said Rob Metzger, MissionOG general partner.
