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I think the point of parent's comment is that hardly anyone in the UK has heard of N26, so perhaps we shouldn't jump to the conclusion that it's all due to Brex

• Beldin 7y ago
  > if they had a market here worth saving, they'd apply for the licence. That basically amounts to a tautology: if getting a license would be worth it, they would get a license.
  • marrs 7y ago
    It's not a tautology at all, it's the patently obvious. The only business reason they have to not apply for the licence is that they won't have any profits left over afterwards. Ergo they aren't very profitable, unless you're claiming that the licence is designed to be so costly as to keep foreign companies out, which I highly doubt, given that Britain (and especially the Conservative party) like to attract foreign investment.
    • threatofrain 7y ago
      Opportunity cost is another obvious reason to leave money on the table. If the company is small enough then they might rather focus on the EU first, esp. if they thought their specialty was “doorway to EU banking”.
      • Zenst 7y ago
        That aspect does make more sense, and perhaps longer term with a divergence in regulation and with, makes sense short to mid term and may be an avenue they try again market wise and until then, best focus on growth area's. But equally, they started in the UK in October 2018, and perhaps they may of gambled that the UK would stay more aligned or in the EU is my thoughts upon this as well.
• Deukhoofd 7y ago
  They had 200_000 customers in the UK according to the BBC.