Both hold KPKT licenses. Both offer unsecured financing from 12% p.a.
In April 2025, Bee Informatica secured a nationwide digital lending license from Malaysia‘s Ministry of Housing and Local Government (KPKT). This was a milestone — one of fewer than 30 licensed digital lenders in the country. Funding Bee, the platform it operates, joined the ranks of KPKT-licensed lenders. But here‘s the interesting part: First N Ever has held a KPKT license for over 20 years.
Same regulator, license type and country. But two completely different ways of lending money.
First N Ever has human advisors, offers face-to-face consultations, and bases its assessments on over 20 years of experience. In contrast, Funding Bee is an AI-driven digital microfinance platform — fully online, AI-based approval within hours, and psychometric testing to assess borrowers.
This is not just a comparison of numbers. It compares two different philosophies about who deserves financing and how to deliver it. This article explores how each lender works, who they serve, and which model fits your SME.
The Two Worlds: 20 Years of Experience vs 2025 AI-First Licensing
First N Ever and Funding Bee represent two different eras of lending in Malaysia.
First N Ever: The Established Traditional Lender
It is a licensed money lender and credit community registered with KPKT with over 20 years of experience in providing financial assistance to Malaysians. It has been operating continuously since its SSM registration in 2006. This is not a company that just appeared — it has weathered multiple economic cycles, maintained regulatory compliance through annual KPKT reviews, and built a reputation through word of mouth and long-term customer relationships.
The company offers unsecured personal financing from RM5,000 to RM300,000 with tenures of 6 to 36 months. Interest rates start from 12% p.a., and no collateral is required. First N Ever also provides SME business financing up to seven figures with 60-month repayment terms.
Funding Bee: The Digital Disruptor
Funding Bee, operated by Bee Informatica, secured its nationwide digital lending license from KPKT in April 2025. This license aligns with Budget 2025 priorities focused on digital inclusion, SME growth, and AI adoption. According to its CEO and Founder Fumiko Inada, the company’s mission is to assess all SMEs fairly and provide them with access to finance. This licence enables us to operate nationwide, offering a lending process that is fast, fair, and fully digital”.
Funding Bee‘s platform allows borrowers to complete the entire loan process online, including e-KYC verification, e-signatures, and AI-based approval — within two to three hours. It offers micro business loans of RM10,000 up to a maximum of RM50,000, with repayment terms up to 24 months. For Sole Proprietorship companies, the loan amount is RM5,000 to RM30,000; for Sdn Bhd companies, it is RM20,000 to RM50,000.
Both are KPKT-licensed. Both offer unsecured financing from 12% p.a.. But they are fundamentally different organizations serving fundamentally different needs.
How They Assess Borrowers: Human Experience vs Psychometric Testing
First N Ever: Human Assessment Based on 20 Years of Experience
This human-centered approach has advantages. A person can understand nuance and can see that a business is viable even if the paperwork isn‘t perfect. A person can ask questions, clarify details, and make judgment calls that an algorithm might not. First N Ever’s advisors have over 20 years of experience in the Malaysian SME financing landscape. They have seen thousands of businesses — manufacturing, retail, services, wholesale, and food and beverage. They understand that a seasonal dip in revenue does not mean a business is failing.
Funding Bee: AI Assessment with Psychometric Testing
What makes Funding Bee unique is its use of a psychometric test. According to available information, this test is developed in-house to assess repayment willingness and ability. It includes 48 questions analyzing three dimensions: entrepreneurial spirit, financial literacy, and compliance awareness. The test is part of a unique credit score that helps SMEs access financial services more easily.
Who They Serve: Established SMEs vs Underserved Micro-Enterprises
These two lenders serve different segments of the SME market.
First N Ever serves established SMEs
First N Ever‘s target customer is the established SME that needs substantial financing. This is a business with:
- SSM registration for at least 1 year
- Annual income of RM60,000 or more
- Operations in Klang Valley or Johor
- A need for RM5,000 to RM300,000 (or more for business financing)
First N Ever‘s clients are business owners who have been operating for years, have stable cash flow, and need capital for expansion, equipment, or large-scale inventory purchases.
Funding Bee serves micro-enterprises and the underserved
Funding Bee‘s target customer is the micro-enterprise that traditional financing has overlooked. According to SME Magazine, 40% of Malaysian adults remain underserved or unbanked, particularly in rural areas and among the B40 income group. Women-led MSMEs are especially impacted, with 95% relying on personal or family savings to grow their businesses.
Funding Bee‘s platform is designed to reach these underserved communities. With a fully digital process that can be completed in minutes using minimal documentation, it removes the barriers that traditional lenders often impose — physical branches, lengthy paperwork, and rigid eligibility criteria.
A note on women entrepreneurs
Bee Informatica‘s platform features a mobile-friendly interface tailored to women balancing business and family duties. This reflects a deliberate focus on financial inclusion for groups that have been historically underserved by traditional financial institutions. Funding Bee‘s mission — as stated by its CEO — is to ensure “all SMEs should be assessed fairly and have access to finance”.
Which Lending Model Fits Your Business?
The choice between First N Ever and Funding Bee is not about which lender is “better.” It is about which lending model fits your business‘s needs, size, and situation.
Choose First N Ever if:
- Your business needs more than RM50,000 in financing — up to RM300,000 or even RM1,000,000+
- You want to work with experienced advisors who understand the Malaysian SME landscape
- You prefer face-to-face or phone consultations over fully digital processes
- Your business has a track record of stable revenue and cash flow
- You can wait 3 to 5 working days for approval
- You want a fee structure that is simple and transparent — 0.5% stamp duty and a processing fee, with no administration fee
Choose Funding Bee if:
- Your business needs RM50,000 or less for quick working capital
- You are a micro-enterprise or sole proprietor that has been overlooked by traditional lenders
- You need funds urgently — within 2 to 3 hours or 1 to 2 working days
- You prefer a fully digital process that you can complete online in 10 minutes
- You are comfortable with AI-based assessment, including the psychometric test
- You are a woman entrepreneur or belong to an underserved community
- You are located outside Klang Valley or Johor (Funding Bee operates nationwide)
The bigger picture
First N Ever and Funding Bee represent two different eras of lending in Malaysia. One is built on decades of experience, human judgment, and long-term relationships. The other is built on AI, digital inclusion, and psychometric data. Both have a place in Malaysia‘s SME financing ecosystem. The right choice depends on where your business is today — and where you want it to go.
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