N26 Bank Leaves UK
n26.com
n26.com
N26 is German. I can see complications arising from Brexit. Bank Passporting was a big issue before the referendum, during and after.
IMHO, the reality is that they have taken a commercial decision because they are not doing great in the UK with a lot of competition and are investing in the US at the same time.
It is though -- a banking licence is a big deal and they aren't handed out like hunting licences. They are very expensive and introduce a lot of overhead to the financial company.
N26 also had to get a US licence. Probably a bigger deal.
The point is that they did not decide to leave because of that. As mentioned, just last year they were talking of growing massively in the UK. In the meantime they have launched in the US and it seems they had to make a choice, especially since they do not seem to be doing great in the UK.
Brexit has been in the cards for almost 4 years now, and they were officially planning to increase their presence in the UK no later than last year [1].
I suspect that they simply concluded that they were too far behind Monzo and Revolut in the UK and decided to focus on the US instead.
[1] https://www.telegraph.co.uk/technology/2019/04/15/digital-ba....