N26 CEO Valentin Stalf. Photo by Noam Galai/Getty Images for TechCrunch, under Creative Commons license

European fintech N26 has announced that it’s extended its Series D by an additional $100 million whilst maintaining its previous valuation of $3.5 billion. The extension adds up the company’s Series D to $570 million, and the total it’s raised since inception to about $800 million. N26 is apparently raising the new funding to help bolster its digital banking platform in the middle of a widespread coronavirus pandemic that has escalated the demand for digital banking. N26 didn’t specifically mention where the Series D extension came from but clarified that all of its “major” investors participated in the funding.

Amid a higher-than-normal demand for mobile banking services, N26 says it’ll put the new funding towards product development and strengthening its footprint in its core markets. “The adoption of digital banking is accelerating as the world adjusts to a new normal. As one of the world’s leading challenger banks, N26 is front and center in this shift, driving global innovation from our base in Europe,” N26 CEO Valentin Stalf said in a press statement that announced the Series D extension. “With banking from home now more important than ever, we want to make sure that everyone can open a bank account in minutes to explore the freedom and safety of mobile banking,” He said.

Currently, N26 is present in 24 European regions plus the U.S., a country it recently got into. The Berlin-based fintech company has more than 5 million customers currently. Supporting its operations are more than 1,500 employees across five offices.

N26 has raised funding from well-known venture capital firms including Peter Thiel’s Valar Ventures, Li Ka-Shing’s Horizons Ventures, GIC, Battery Ventures, and Insight Venture Partners. Chinese tech giant Tencent is also an investor in the company.