February 22, 2020

German fintech N26 to leave UK — because Brexit

German fintech startup N26 will pull out of the UK market completely, as it says its European banking license won’t permit operation there following Brexit. UK-based customers of the Berlin-based company were told today their accounts would close by April 15th, Reuters reports. N26 has operated in the UK for just five months, some two years after the public voted to leave the European Union in the first place. In fact, its CEO Valentin Stalf told CNBC in October that launching in the UK was “a no-brainer for us, independent of Brexit.” N26 hosts approximately 200,000 British accounts, whose owners are…

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