Alternative Payments, a prominent provider of integrated B2B payments and checkout solutions, has announced a significant funding milestone, raising $22 million. The investment rounds were led by MissionOG and Third Prime, marking a strategic step in the company’s efforts to modernize payment workflows in sectors often overlooked by fintech innovation.
The newly acquired capital is set to expedite the evolution of autonomous payment solutions that target underserved industries like IT service providers and managed services. "Innovation in payments is a powerful catalyst for growth, especially in these uncertain times," said Baxter Lanius, CEO of Alternative Payments. He emphasized the goal of improving cash flow for businesses globally, stating, "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."
Historically, B2B sectors have struggled with antiquated systems that complicate payment processing, document handling, and financial access. Alternative Payments aims to disrupt this landscape by providing a streamlined alternative to traditional payment systems, effectively addressing issues such as delayed invoice processing and reliance on paper-based methodologies.
With their platform, companies have been able to reduce Days Sales Outstanding (DSO) by an impressive 40-50%, empowering them to automate manual processes and facilitate quicker settlements. According to Lanius, since 2024, Alternative Payments has experienced remarkable growth, increasing its total processing volume nearly five-fold.
Rob Metzger, General Partner at MissionOG, expressed enthusiasm for the partnership, remarking, "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."
As they look to the future, Alternative Payments is determined to not only expand their global reach but also enhance their infrastructure, further shaping the landscape of B2B payments. The capital infusion is seen as a pivotal moment, marking a new chapter in the company’s efforts to democratize payment solutions for all businesses, irrespective of their size or sector.
"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," Lanius concluded.
Alternative Payments has distinguished itself as a leader in the B2B payments sector by providing a fully integrated platform that not only enhances accounts receivable and payable processes but also supports client-facing financing options like buy now, pay later. With this strategic move, Alternative Payments is poised to catalyze significant changes in how businesses approach and execute their payment strategies, aiming to eliminate friction and inefficiency in B2B transactions.
As the company prepares to roll out these new advancements, the fintech space watches closely, eager to see how Alternative Payments will redefine transactional efficiency in long-overlooked industries.