PRN Funding Selects XEN as its End-to-End Factoring Software Platform

XEN, a leading origination and management platform for factors and commercial lenders, announced that PRN Funding, celebrating 25 years as a factoring industry leader, has selected XEN as its end-to-end factoring software platform. Building on a strategic partnership announced in November and its launch of XEN for front-end sales and underwriting, PRN will now manage its entire factoring business on XEN – from initial prospect intake, diligence, and onboarding to ongoing client operations, management, and risk monitoring.

The expanded partnership represents a significant milestone for both companies. After 25 years on legacy factoring software, PRN chose XEN to power its next chapter of growth and innovation. XEN is the only end-to-end platform in the factoring market that can manage both prospect and client operations in a single system.

“As we celebrate our 25th anniversary, selecting the right technology partner for our future was critical,” said Phil Cohen, President of PRN Funding. “Since launching last year, XEN’s front-end has already transformed our ability to win more deals and onboard new clients more quickly, paying for itself in only a few months. Now, after a quarter-century on our previous factoring software, we needed a solution that could similarly deliver a superior experience to our clients, drive meaningful efficiency gains across our entire operation, and position ourselves for continued growth and scale in the years ahead. XEN is that platform and partner.”

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The strategic partnership involved extensive design collaboration: through its partnership-first and customer-centric approach, XEN worked closely with PRN to incorporate feedback and ensure the platform met the specific needs of a leading factoring company and achieved their goals of greater efficiency, scalability, and speed.

“We’re honored that PRN Funding chose XEN to power their entire factoring business across prospects and clients,” said Alexander Kayfetz-Gaum, Sr. Vice President at XEN. “This selection validates our commitment to being a unified, end-to-end platform for factors – something only XEN offers today. For a longtime industry leader like PRN to choose XEN speaks volumes about what we’ve built together through our partnership, and our comprehensive platform’s unique ability to support the broader factoring industry.”

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