Alternative Payments, a B2B payments company, has raised $22m in funding, led by MissionOG and Third Prime. 

The capital infusion will facilitate the company’s efforts to digitise B2B payment workflows for “underserved” industries. 

It will help expedite the development of autonomous payment solutions and scale the firm’s “go-to-market” team.  

Targeting sectors such as IT service providers, managed services providers, and blue-collar industries, Alternative Payments provides a platform for managing accounts receivable and payable, merchant services, and client financing options. 

The company’s automated platform aims to resolve issues such as delayed invoice processing, poor invoice deliverability, dependence on paper-based systems, and the challenges of cross-border payments.  

The company said it has decreased days sales outstanding by 40-50% for its clients and has seen an around fivefold increase in total processing volume since 2024. 

The latest funding will support the company’s product roadmap, which includes new automation and analytics tools.  

Alternative Payments is also preparing for international growth, with market entries in Canada and the UK anticipated soon. 

It is strengthening its workforce, particularly in engineering, support, and operations to improve its delivery capacity, as well as planning to expand its sales and marketing teams. 

Alternative Payments CEO Baxter Lanius said: “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.”