The venture market tends to shine brightest on shiny consumer tech, while the real workhorses of the economy—blue-collar businesses, managed service providers, and traditional IT firms—get left in the dark. But that’s changing. Alternative Payments has stepped in with a mission: to overhaul outdated financial systems still plaguing these essential yet underserved sectors.
Operating in a space where slow invoice processing, paper trails, and patchy merchant services are still the norm, Alternative Payments is bringing modern fintech to the industries most in need of it. The company’s B2B payments platform replaces clunky legacy systems with a fully integrated solution that automates financial workflows, cuts down days sales outstanding (DSO) by nearly half, and speeds up access to working capital.
The startup just raised $22 million to scale these efforts. The round was led by MissionOG and Third Prime, with participation from several other strategic backers. This funding is set to supercharge the development of automation-first features, expand market reach, and bring seamless payment processing to even more verticals still stuck in manual mode.
Streamlining Payments for the Real Economy
With this new capital, Alternative Payments plans to boost its integration capabilities with accounting and ERP systems. That means businesses will be able to manage their accounts receivable in sync, with no extra overhead. Whether a company relies on credit cards, ACH, or even offers B2B buy-now-pay-later (BNPL) options, the platform handles it all, reducing friction across the entire payment lifecycle.
It’s not just about handling payments—it’s about making them invisible. The company’s goal is to automate every part of the process so businesses can spend less time on paperwork and more time scaling their operations.
From Wall Street to Workflow Reinvention
The founder behind this push is Baxter Lanius, a former investor turned fintech operator. Before launching Alternative Payments in 2021, Lanius spent years analyzing the fintech space as a Principal at Apollo Global Management and Victory Park Capital. His deep dive into the sector exposed a major gap: entire industries were being overlooked by the wave of digital payment innovation.
That realization became the foundation for Alternative Payments—a platform designed specifically for the forgotten corners of the B2B economy. And since its founding, the impact has been clear. In just the past year, the company’s processing volume has grown nearly fivefold.
Built to Serve the Underserved
At its core, the platform is built for businesses that never had access to this kind of tech before. It helps companies send invoices, receive payments faster, and offer client financing options—all from one unified dashboard. Better yet, its flexible integrations mean companies don’t need to rip out their current systems. They can plug in and get going without disrupting day-to-day operations.
The results speak for themselves: customers are reporting faster payments, fewer errors, and happier clients.
What’s on the Horizon?
Looking ahead, Alternative Payments aims to deepen its footprint in sectors still lagging behind in digital adoption. The team will focus on expanding sales, refining automation features, and continuing to deliver tangible value to industries the fintech world has too often ignored.
Lanius sees it as more than just a product—it’s a mission. “We’re unlocking greater efficiency, stability, and confidence for businesses that have been left behind,” he said. With this funding, the company is set to build the infrastructure that defines the next chapter in secure, seamless B2B payments.
