Alternative Payments Raises $22 Million to Modernize B2B Payment Offerings
Backed by MissionOG and Third Prime, funding will accelerate automation and global expansion in overlooked B2B sectors
NEW YORK, April 24, 2025 /PRNewswire/ — Alternative Payments, a leading fully-integrated B2B payments and checkout infrastructure provider, today announced that they have 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 mission-critical, autonomous payment solutions and scale the company’s go-to-market team. 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such as IT service providers, managed services providers, and blue-collar industries — sectors that have long relied on outdated systems to manage accounts receivable and payable, to access merchant services, and to offer client-facing financing.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 a modern, streamlined alternative to legacy payments and financing providers.
With deep expertise in system integrations, Alternative Payments 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 has been able to reduce days sales outstanding by 40-50% for its customer base, by empowering businesses to confidently automate historically manual workstreams and prioritize faster settlement and global accessibility. Since 2024, Alternative Payments has grown its total processing volume by nearly 5.0x.
“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.
To learn more about Alternative Payments, visit the website.
About Alternative Payments
Alternative Payments is a B2B payments and checkout infrastructure company. Alternative Payments’ end-to-end payment platform provides immediate access to merchant services, including credit card, ACH bank transfer, and client-facing financing (B2B buy now pay later). Its software fully integrates with a company’s ERP and/or accounting software, tracking all accounts receivable, reconciling all payments, and accelerating a client’s time-to-pay. On average, Alternative Payments customers are paid 40-50% faster driven by automated workflows.
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