XEN, an origination and management platform for factors and lenders, formed a multi-year strategic partnership with OpenRoad Financial, a trucking-exclusive factoring company serving carriers for over 10 years.
With this new partnership, OpenRoad will power all new client origination and underwriting on the XEN platform, including automated application intake and centralized diligence through XEN’s integrated partner network. After years on a legacy system, the transition to XEN is a significant move toward a faster, more streamlined front-end for the OpenRoad team and their prospects.
“OpenRoad is obsessed with delivering industry-leading service to our carrier clients, and that starts with one of the earliest experiences they have with our business: the underwriting process. From our first conversation with the XEN team, it was clear they had a deep understanding of our business and shared our values of excellence and continuous improvement,” Trena Harustak, vice president of factoring at OpenRoad Financial, said. “XEN’s platform is built on a modern, robust infrastructure and we believe that foundation will give our team an edge as we continue to iterate and improve the experience for our clients. At OpenRoad, we push ourselves to get better every day, and we are excited to leverage the XEN platform to better serve our carriers.”
Alexander Kayfetz-Gaum, senior vice president at XEN, added, “We are excited and humbled to partner with OpenRoad, an innovative leader in the transportation factoring industry. The OpenRoad team has been hands-on from day one, sharing challenges with prior tools and goals for the future that XEN can help achieve. That kind of collaboration is exactly what sets a partnership like this up for success, and we look forward to building on that momentum and supporting OpenRoad’s growth for years to come.”
