European fintech firms of all stripes are preparing for the worst case scenario when it comes to Brexit; “Unfortunately no one knows how hard Brexit will be when it comes to banks licenses,” N26 Co-founder and CFO Maximilian Tayenthal tells CNBC. “One of the options is we need bank license quite soon, so we have a team working on that.”; fintechs and banks alike are in the process of acquiring banking and e-money licenses across the EU so when a no deal does happen they are properly prepared; Brexit has yet to have an adverse effect on fundraising with UK companies racking up more than $16bn in capital during 2018. Source.
