Alternative Payments has successfully raised $22 million in funding to enhance its automation and accessibility in the B2B payments sector. The New York-based company aims to expand its product offerings and grow its customer success teams, addressing a market that has been significantly underinvested in, according to CEO Baxter Lanius. Lanius emphasized the importance of product development, aiming to build a comprehensive financial services platform that automates all money movements for managed service providers. The company has already seen impressive growth, increasing its total processing volume nearly fivefold since 2024 and helping clients reduce days sales outstanding by up to 50 percent. The company has plans to expand internationally into Canada and the United Kingdom by the end of the year.
Cyber Verify, the compliance platform developed by MSPAlliance, has announced significant enhancements aimed at empowering managed service providers and software as a service companies. The upgrade includes a new user interface, a revolutionary scoring model for measuring compliance maturity, and an innovative API for seamless integrations. The redesigned Cyber Verify platform features an all-new dashboard that promises a more intuitive user experience. Among the key enhancements is the CORTEX scoring model, which tracks compliance in real-time using data-driven insights specifically for managed service providers. The introduction of the Compliance Connector API aims to automate compliance documentation, allowing providers to efficiently gather evidence from core platforms like remote monitoring and management systems.
Why do we care?
Fintech is finally catching up to the realities of service-based businesses. Most financial platforms still assume product-centric businesses—but MSPs deal with recurring billing, variable services, and slow pay cycles. That’s a pain point Alternative Payments is explicitly targeting. A lot depends on execution. International expansion is notoriously difficult in payments, and integrations with the MSP tech stack are critical. If Alternative Payments can’t connect cleanly into PSA/RMM or accounting systems, adoption will stall.
If Cyber Verify can automate documentation from RMM/PSA tools, providers can offer ongoing compliance visibility rather than a yearly checkbox audit. The platform’s value still hinges on whether MSPAlliance can maintain independence and credibility in how it scores maturity. If scoring feels like a pay-to-play mechanism, trust will erode. MSP Alliance is not a highly visible member of the MSP community, and this is required for real market success. Also, while the Compliance Connector API sounds promising, real integration depth (not just surface-level connections) will be the test.