XEN, an origination and management platform designed for factors and lenders, has announced a partnership with Primary Funding, a California-based factor and direct lender with over 30 years of industry experience. Under the arrangement, Primary Funding now manages all new client origination through the XEN platform.

Since launching on XEN earlier this year, Primary Funding has consolidated its front-end processes into a single system capable of supporting workflows across multiple financing solutions, including factoring, term loans, and lines of credit. The platform enables Primary Funding to manage application intake and supporting documentation, automate key follow-up communications, and conduct soft credit pulls. According to the company, these capabilities have contributed to increased deal velocity and an improved client experience.

Factoring, a form of financing in which businesses sell their accounts receivable to a third party at a discount, has long relied on manual and fragmented onboarding procedures. The financing method is commonly used by small and mid-sized businesses that have extended payment terms with commercial customers and need faster access to working capital. For factors, the speed of onboarding new clients can directly affect competitiveness, as businesses seeking receivables financing are frequently looking to address near-term liquidity needs. Platforms like XEN seek to digitize and centralize these workflows, allowing lenders to process applications more efficiently.

"What stood out about the XEN team from the start was their commitment to understanding our operations and adapting the platform to how we work," said Karenza Rodriguez, Vice President of Credit at Primary Funding. "Other tools we've used in the past were inflexible and static, whereas XEN is improving constantly based on our direct feedback. This has resulted in significant business impact: in the first full quarter since using XEN, we're seeing all-time highs for new business development."

"Primary Funding knew exactly how they wanted their front-end to work, and XEN is built to deliver that kind of flexibility," said Alexander Kayfetz-Gaum, Senior Vice President at XEN. "What excites us most about this partnership goes beyond the technology: Primary Funding shares our belief that a platform should never stop improving. When your clients are as invested in that process as you are, everyone wins."

The partnership underscores a broader trend among alternative lenders and factors adopting specialized software platforms to modernize origination, underwriting, and portfolio management processes. While large financial institutions have had access to enterprise-grade lending technology for years, smaller factors and independent lenders have historically faced a narrower set of purpose-built tools, making platforms tailored to this segment a growing area of development.