Alternative Payments

Alternative Payments

AR automation for offline SMEs payments

Overview

Alternative Payments helps offline, service-based businesses manage money better by providing AR automation software that streamlines payment processing, invoice management, and overdue collections. The product automates tasks like processing payments, pursuing overdue charges, and handling invoices, using a user-friendly interface that SMEs can adopt quickly. Unlike many fintechs that target larger enterprises or online-only models, it focuses on small to medium-sized service providers that previously lacked access to advanced financial tools. Revenue comes from a mix of subscription fees for the software and transaction fees for payment processing. The goal is to save businesses time, improve cash flow, and support growth by simplifying payments and collections.

Significant Headcount Growth

About Alternative Payments

Simplify's Rating
Why Alternative Payments is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Differentiation

Industries

Enterprise Software

Fintech

Financial Services

Company Size

51-200

Company Stage

Seed

Total Funding

$4M

Headquarters

New York City, New York

Founded

2021

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Simplify's Take

What believers are saying

  • April 2025 raised $22 million, funding Canada offices and hiring.
  • June 2026 partnership expands accounting-channel distribution across North America immediately.
  • Processing volume reportedly grew nearly 5x since 2024, proving product-market pull.

What critics are saying

  • Paidnice and ConnectBooster attack its MSP wedge with simpler collections and pricing.
  • HighRadius, Billtrust, and Versapay dominate larger AR budgets and longer enterprise evaluations.
  • If LedgerWay and MSP partners churn, Alternative Payments loses distribution and CAC spikes.

What makes Alternative Payments unique

  • June 2026 LedgerWay partnership puts Alternative Payments inside 5,000+ SMBs.
  • November 2025 Delmar Insights acquisition adds analytics to payments and AR workflows.
  • July 2026 MSP API deepens integrations across ConnectWise, Autotask, Halo, and SuperOps.

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Funding

Total Funding

$4M

Above

Industry Average

Funded Over

1 Rounds

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.
Seed Funding Comparison
Above Average

Industry standards

$3.3M
$2M
Netflix
$2.3M
Instacart
$3M
Robinhood
$4M
Alternative Payments

Benefits

Unlimited Paid Time Off

Hybrid Work Options

Company Equity

Professional Development Budget

Growth & Insights and Company News

Headcount

6 month growth

21%

1 year growth

21%

2 year growth

2%
Small Business PR
Jun 3rd, 2026
Small business news releases.

Small business news releases. Alternative Payments and LedgerWay announce strategic partnership to bring ai-powered AR automation to more than 5,000 small businesses. Through the partnership, LedgerWay will make Alternative Payments available to its 5,000+ business clients - providing AI-powered workflow automation, faster collections, and modern payment infrastructure NEW YORK, June 3, 2026 /PRNewswire/ - Alternative Payments, a leading AI-powered B2B payments and accounts receivable (AR) automation platform, and LedgerWay, a leading accounting and advisory firm serving thousands of small businesses across the country, today announced a strategic partnership to bring industry-leading AR automation to more than 5,000 small businesses across North America. Through the partnership, LedgerWay continues to build on its mission as a trusted advisor and growth partner to its clients - making Alternative Payments available as its recommended AR and payments automation solution. For LedgerWay's clients, the partnership delivers immediate access to Alternative Payments' industry-leading AR automation suite, including AI-powered workflow automation, secure online payment portals, automated invoicing, real-time payment tracking, invoices and cash reconciliation, and native integrations with accounting and ERP platforms. For LedgerWay's accountants, the partnership creates a single pane of glass to manage AR and payments across their client book - enabling proactive growth and collections advisory that fragmented legacy systems can't support. "The accounting industry has been one of the largest and longest-overlooked segments in B2B payments. Small businesses across the country are still being asked to chase down invoices manually, and their accountants lack the infrastructure to help solve it at scale," said Baxter Lanius, Founder and CEO of Alternative Payments. "Alternative Payments was built to close that gap. Partnering with LedgerWay accelerates that effort across thousands of small businesses immediately. LedgerWay is exactly the kind of firm we built this platform for - deeply established, technology-forward, and obsessively focused on helping their clients grow." Serving thousands of small businesses across the United States, LedgerWay has built a leadership position in the accounting industry by combining a 50-year history with a modern, growth-focused advisory model. They see accurate filing and clean books as the floor, not the ceiling. They help clients scale through technology and proactive guidance across tax, accounting and business advisory. The Alternative Payments partnership enhances that model, embedding industry-leading AR infrastructure across LedgerWay's client base. "At LedgerWay, our job isn't just to keep our clients compliant. It's to be the proactive partner that actively helps them grow. And this partnership is a natural fit for that vision," said Damyan Dimitrov, Founder and CEO of LedgerWay. "Alternative Payments will deliver significant value to our clients with faster collections, better cash flow, and real savings that materially impact how fast our clients' businesses can grow. And that's what it's all about." The partnership advances Alternative Payments' expansion into the accounting industry, joining existing verticals that span managed service providers, IT services, and services businesses throughout North America. About LedgerWay LedgerWay is a modern tax, accounting, and advisory firm built for growth-minded small businesses and entrepreneurs. Founded in 2022, LedgerWay brings together a network of firms with roots dating back over 50 years, combining decades of small-business expertise with a modern, integrated approach to financial partnership. The firm is built around a simple promise: bring clarity to the numbers, confidence to decisions, and momentum to growth so small businesses thrive. With offices across Georgia, Florida, Texas, and California, LedgerWay's team of CPAs and Enrolled Agents serves over 5,000 businesses nationwide. LedgerWay operates under the Alternative Practice Structure (learn more). About Alternative Payments Alternative Payments is a leading B2B payments and accounts receivable automation platform, serving thousands of businesses across North America. The company's platform delivers end-to-end automation - including AI workflow automation, automated invoicing, secure online payment portals, real-time payment tracking, and invoice and cash reconciliation - with direct integrations into leading ERP, PSA, and accounting systems. To learn more about Alternative Payments, visit the website. SOURCE Alternative Payments

PR Newswire
Nov 4th, 2025
Alternative Payments Acquires Delmar Insights to Deliver the First AI-Powered Payments and Intelligence Platform

/PRNewswire/ -- Alternative Payments, the leading financial operating system for B2B services companies, today announced that it has acquired Delmar Insights,...

Fintech.ca
Sep 23rd, 2025
Alternative Payments Expands to Canada, Raises $22M

New York-based fintech Alternative Payments is expanding into Canada, marking its first international market presence. The company is opening offices in Toronto and Vancouver to enhance partner engagement and customer support. This expansion follows a $22M funding round led by MissionOG and Third Prime, enabling the company to scale globally and improve payment solutions for underserved industries.

Read Magazine
Aug 28th, 2025
Alternative Payments Debuts API to Accelerate MSP Growth Through Automation

Alternative Payments, a leading fully-integrated B2B payments and checkout infrastructure provider, announced the launch of the Alternative Payments API.

Kaseya
Jul 24th, 2025
New Revenue Stream for MSPs: How Alternative Payments Is Reinventing B2B Payments

Now, Alternative Payments has launched a partner program to help MSPs help their customers with their own payments systems, with a revenue share model.

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