Primary Funding puts XEN in charge of new client origination

Primary Funding has partnered with XEN to manage all new client origination on the platform, streamlining application intake, follow-up and credit checks across its financing products. The deal underscores how lenders are using more flexible software to speed up deal flow and improve the client experience.

Why it matters: - Primary Funding is using XEN to centralize front-end origination across factoring, term loans and lines of credit. - The move is meant to speed up deal flow, reduce manual handoffs and improve the client experience. - The partnership shows how lenders are leaning on configurable software to support multiple financing workflows in one system.

What happened: - XEN announced a partnership with Primary Funding, a California-based factor and direct lender with more than 30 years in business. - Primary Funding now manages all new client origination on the XEN platform. - Primary Funding launched on XEN earlier this year. - The company uses XEN to manage application intake, collect supporting documents, automate follow-up touchpoints and run soft credit pulls.

The details: - XEN is a platform for factors and lenders that supports sales, underwriting and operations. - Primary Funding uses the same system across factoring, term loans and lines of credit. - The platform has increased deal velocity for Primary Funding. - The platform has also improved the client experience, according to the company. - Karenza Rodriguez, vice president of credit at Primary Funding, said XEN adapted to the company’s operations and improves based on direct feedback. - Rodriguez said the first full quarter using XEN produced all-time highs for new business development. - Alexander Kayfetz-Gaum, senior vice president at XEN, said the platform is built to give lenders flexibility in how they run their front-end process.

Between the lines: - The partnership appears to reflect a broader shift toward workflow-specific software in commercial finance, where firms want tools that can change with their process instead of forcing rigid templates. - Primary Funding’s feedback suggests the value of the platform is not only automation, but also ongoing product iteration. - XEN’s pitch is that a single platform can cover more of the lending lifecycle than legacy tools.

What's next: - Primary Funding will continue using XEN to run new client origination and front-end operations. - XEN said it will keep improving the platform with customer feedback. - The companies are positioning the partnership as an ongoing operating relationship rather than a one-time software rollout.

The bottom line: - Primary Funding is betting that flexible origination software can help it move faster, convert more deals and keep service levels high as it grows.