Is there an online whatsapp backup?

Dear all,

Yesterday I had to format my phone. I have the automatic backup of whatsapp always switched on, so I thought this would store everything online.

I thought so, because when I got a new phone I remember that upon whatsapp installation it would come with all my chats automatically, but this time it never prompted me for anything.

It now appears that this backup was on my phone's (Motorola Moto G) internal storage.

Is there anything I can do about this, is my backup stored somewhere online? What do people who have their phones lost or stolen do?

I have spent a lot of time online trying to figure it out and also went through this forum, but I am not super tech savvy and am struggling to find a conclusive answer.

It concerns years and years of chat history with immeasureable emotional value, and it would mean a lot for me if I could somehow retrieve it.

Apologies for my ignorance, and if you could support me on this I would appreciate it a lot.

Thanks in advance!

Kind regards,

Sander