That may all be true (and it does seem to be), but it doesn't necessarily mean Brexit is a scapegoat.

With an EU-wide banking license, N26 can operate in any territory it chooses to, for relatively little marginal overhead. Once they need a completely separate banking license for the UK, it changes the model significantly and would need them to be significantly more successful to justify continuing operations here.

I get the feeling that every time Brexit is cited as a factor causing a business to leave the UK, those who support Brexit will be able to point their fingers at all the other contributing factors and label Brexit a scapegoat. Sure, Brexit will usually be a contributing factor rather than the only obvious cause. Businesses that are doing well will manage to survive the Brexit hit. That doesn't make Brexit good or even neutral for business.

Please refrain from the tired personal attack that consists of 'accusing' people of supporting Brexit simply because they refuse to blindly buy that anything going badly is "because of Brexit".