In a world where fintech innovation often targets consumer markets or high-tech verticals, vast segments of the business-to-business (B2B) economy remain tethered to outdated, manual systems. Blue-collar sectors, managed service providers, and IT service firms — the operational backbone of countless industries — have long lacked access to modern payment tools. These businesses continue to struggle with slow invoice processing, paper-based workflows, and limited merchant services, which hinder their efficiency and growth.
Alternative Payments has emerged as a bold solution to these entrenched challenges. The company provides a fully-integrated B2B payments and checkout infrastructure, purpose-built to digitise and automate financial workflows for underserved sectors. With a platform that replaces cumbersome legacy systems, Alternative Payments is reducing days sales outstanding (DSO) by an average of 40-50%, giving businesses faster access to working capital and streamlining operations.
To fuel its next phase of growth, Alternative Payments has closed $22 million in total funding, with investment rounds led by MissionOG and Third Prime. This capital infusion will accelerate the company’s product development efforts and expand its go-to-market capabilities. The funding will support the rollout of autonomous payment solutions and further scale the company’s presence across key verticals that continue to lag in digital transformation.
Investing in automation and scale
The raised capital will power the development of mission-critical features designed to enhance automation and global reach. Alternative Payments plans to continue integrating its platform seamlessly with enterprise resource planning (ERP) and accounting software, allowing for fully synchronised management of accounts receivable.
The company’s technology not only reconciles payments across multiple channels, including credit card, ACH, and client-facing financing (B2B BNPL), but also simplifies the entire payment lifecycle.
As the fintech scales, growing its go-to-market team will also be a priority, ensuring more businesses have access to its platform and can move away from slow, error-prone manual processes.
The founder: From investment to innovation
At the helm of this transformation is founder and CEO Baxter Lanius in 2021 in New York. Prior to launching Alternative Payments, Lanius spent over a decade investing in business services and fintech companies, serving as a Principal at Apollo Global Management, an $800 billion asset manager, and Victory Park Capital, a $10 billion investment firm.
His experience analysing and supporting fintech solutions from the investor side laid the groundwork for identifying a gap in the market, the critical need for modern payment infrastructure in industries that fintech often ignores. This insight drove the creation of Alternative Payments and continues to guide its strategic direction.
Alternative Payments: A platform built for the overlooked
Alternative Payments’ core offering is a turnkey software solution that digitises every aspect of B2B payments. From issuing invoices and reconciling payments to offering clients flexible financing options, the platform enables companies to operate with greater efficiency and predictability. Its deep integration capabilities ensure compatibility with existing business systems, eliminating the need for disruptive overhauls.
Since 2024, the company has grown its total processing volume nearly fivefold, a testament to its effectiveness and market fit. Customers are seeing faster payments, improved accuracy, and enhanced client satisfaction.
What’s next?
With momentum on its side, Alternative Payments is poised to become a pivotal player in the B2B fintech space. The company’s next moves will focus on expanding its reach into additional underserved sectors and continuing to refine its autonomous capabilities.
As industries traditionally left behind by fintech begin to embrace automation and digitisation, Alternative Payments is well-positioned to lead this shift, one seamless transaction at a time.
“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.
