Stay informed with free updates
Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.
German software start-up n8n is in talks to raise new funds at a more than $1.5bn valuation, seeking to take advantage of growing investor interest in Europe’s leading artificial intelligence groups.
The Berlin-based company, which automates workflows using AI, is speaking with investors about raising new money, according to people familiar with the talks. The discussions come just four months after its last funding round, which one person with knowledge of the deal said valued the group at about €300mn.
The US and China have been seen as leaders in the race to develop generative AI, with groups such as OpenAI, Anthropic and Google building “frontier” AI models.
But Europe’s start-ups are having success focusing on AI applications and services aimed at businesses. Companies such as Synthesia and DeepL, as well as defence tech group Helsing, are among those raising funds at multibillion-dollar valuations.
Those familiar with n8n’s fundraising talks said the company generates about $40mn of annual recurring revenues — a metric popular with fast-growing start-ups. At the time of its last fundraising in March, n8n had more than 230,000 active users and its annual recurring revenues had grown fivefold within the last year.
n8n could seek to raise more than $100mn in a new round, one of the people said. Talks are continuing and no final decisions have been taken, the people cautioned.
n8n did not immediately respond to requests for comment.
n8n previously raised €55mn in its so-called Series B round in March led by Highland Europe. The start-up has also been backed by the likes of Sequoia, HV Capital, Felicis, Firstminute and Runa Capital.
Its customers include food delivery company Delivery Hero and online jobs group StepStone, according to its website.
Recommended
Other prominent European start-ups looking at raising new investment include France’s Mistral AI, which is eyeing a $1bn funding deal, the Financial Times previously reported.
Mistral has secured new contracts worth hundreds of millions of dollars that have helped drive an upturn in its business as it benefits from a European push to establish regional champions.
Earlier this month, the Swedish “vibe-coding” start-up Lovable raised new money at a $1.8bn valuation, and shortly after announced its annual recurring revenues had surpassed $100mn.
Europe’s venture capital market got off to a slow start this year, with total deals worth €29.2bn in the first half, according to data provider PitchBook. That would put 2025 on track for a roughly 5 per cent decrease in annual deal value.
More than a third of funding went to AI companies, however, as venture investors piled into start-ups in the fast-growing sector.