would Monzo want to “gain access” at a large expense to a market that could be taken away in 2 years time ? Would it not be more sensible to build your customer base in your home Country, then after consolidating your base, open up markets in Countries that don’t have a “closed shop” attitude ?
We don’t know what Europes attitude will be to Uk trade if we do decide to leave (eventually )we don’t know what the UK will be asking for yet - would you spend money on expanding into a market that you might be excluded from in 24 months …hmmmm.
Don’t know how many customers N26 have here in the Uk ? , I would assume most of their
customer base is in Germany ??? and they have then expanding into a market of another 420,000,000 ish and gained another 10% - 20,000 ( ? ) of customers out of their 200,000 (mostly home) customers from the 420,000,000 - even if it was 50% or 100,000 out of 27 other Countries ?
Maybe N26 are being smart and expanding while they can and deal with the consequences of Brexit negotiations next ?