Alternative Payments Secures $22M to Enhance B2B Payment Solutions

Alternative Payments has raised $22 million in funding, backed by MissionOG and Third Prime, to accelerate the development and global expansion of its automated B2B payments platform. The company targets underserved sectors like IT service providers, managed service providers, and blue-collar industries, aiming to replace outdated, manual payment processes with a streamlined, integrated infrastructure. Key features of the platform include automation of invoicing, accounts receivable, reconciliation, and client-facing financing, which have reportedly enabled clients to reduce days sales outstanding by up to 50%. The funding will also support product development beyond core payment automation, expansion of customer success teams, and investments in community-building for MSPs. By integrating with ERP and accounting systems, Alternative Payments seeks to improve cash flow, efficiency, and payment visibility for businesses historically overlooked by legacy fintech providers. This move reflects a broader trend toward digitizing B2B payment workflows and providing modern financial tools for industries that have lagged behind in fintech innovation.