Singapore’s fintech firm WB21 Pte. has decided to move its European head office from London to Berlin, one of the first startups to quit the UK in favor of the German capital after Britain’s vote to leave the European Union.
“Brexit was decisive for us. We had initially planned to operate our European business out of London, but the decision means we lack legal certainty there,” said Chief Executive Michael Gastauer on Friday.
That’s the intro to a story the Wall Street Journal published last week about the first startups to abandon London after Brexit. The article goes on to say WB21 was launched “late last year” and that “as of mid-September, it counted 1 million customers and had sent cross-border payments totalling more than $5.2 billion”.
Continue reading: Farewell, WB21, we hardly knew ya
Singapore’s fintech firm WB21 Pte. has decided to move its European head office from London to Berlin, one of the first startups to quit the UK in favor of the German capital after Britain’s vote to leave the European Union.
“Brexit was decisive for us. We had initially planned to operate our European business out of London, but the decision means we lack legal certainty there,” said Chief Executive Michael Gastauer on Friday.
That’s the intro to a story the Wall Street Journal published last week about the first startups to abandon London after Brexit. The article goes on to say WB21 was launched “late last year” and that “as of mid-September, it counted 1 million customers and had sent cross-border payments totalling more than $5.2 billion”.
Continue reading: Farewell, WB21, we hardly knew ya