Alternative Payments, a NYC-based B2B payments and checkout infrastructure provider, raised $22M in funding.
The round was led by MissionOG and Third Prime.
The company intends to use the funds to accelerate the development of its autonomous payment solutions and scale its go-to-market team.
Led by CEO Baxter Lanius, Alternative Payments is a B2B payments and checkout infrastructure company providing an end-to-end payment platform that offers access to merchant services, including credit card, ACH bank transfer, and client-facing financing (B2B buy now pay later). Its software 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.
The company has been able to reduce 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. Since 2024, Alternative Payments has grown its total processing volume by nearly 5.0x.
FinSMEs
24/04/2025