Valentin Stalf, Founder and CEO, N26. Photo credit: Picture Alliance for DLD | Verwendung weltweit, licensed under Creative Commons

N26, the European digital banking upstart, is considering raising a new funding round next year that’s targeted to surpass the company’s current $3.5 billion valuation, according to a report [paywall] by Bloomberg, which reports that Berlin-based N26 has sought contact with potential advisers for possible new fundraising. Already, N26, a German online bank, has raised nearly $800 million in funding since its inception and is one of the most funded and valuable upstarts in Europe.

Overall, fintech companies have strived very well in Europe, with the sector producing a substantial number of the most valuable private companies from the region. According to data from the analytics firm Dealroom, the fintech industry was Europe’s biggest equity investment category since 2014, accounting for over 30 billion euros ($35.4 billion) of venture capital investment in Europe since that time.

Currently, N26 is backed by investors both in and outside Europe, among them notable names like Tencent, Insight Ventures, GIC, Valar Ventures, Horizons Ventures, and Battery Ventures. N26 is based out of the city of Berlin, Germany, and currently operates in two-dozen countries in Europe along with the US. 

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