Lovable, the Stockholm-based AI coding unicorn, has surged to $100 million ARR and a $1.8 billion valuation in just eight months, as co-founder Anton Osika positions the company as an all-in-one AI development platform inspiring Europe’s startup scene. (Source: Image by RR)

Angel Backers Include Industry Heavyweights from Klarna, Revolut and HubSpot

At Copenhagen’s TechBBQ conference, Lovable co-founder Anton Osika shared his company’s meteoric rise and vision for the future. Lovable, an AI-powered coding platform designed for non-technical users, has rapidly become a standout in the “vibe coding” space by letting users build apps and websites with minimal effort. In just eight months, the Stockholm-based startup crossed $100 million in annual recurring revenue, reached 2.3 million users, and secured $200 million in Series A funding at a $1.8 billion valuation. Investors are already circling with offers for a Series B at a rumored $4 billion valuation, though the company has shown little interest in taking that step just yet.

Osika, as reported in techcrunch.com, described Lovable as more than just a coding tool—his vision is for a full-service platform where founders can build AI-native companies, from coding to payments, debugging and even incorporation. A recently launched agent expands the product’s reach, enabling tasks like reading files, searching the web and generating images. While critics of AI-generated code point to reliability issues, Osika insists all code—human or AI—requires review before publication, and Lovable’s goal is to combine speed, flexibility and user trust to outpace competitors.

Lovable operates on foundation models from both OpenAI and Anthropic, a strategy that sets it apart from providers locked into their own ecosystems. By leveraging multiple models, Osika argues, Lovable can deliver “unmatched capabilities” without the burden of maintaining duplicative infrastructure. This agility has helped the company scale rapidly while keeping its focus on user experience and security. Despite rivals like OpenAI’s Codex or Anthropic’s Claude Code, Osika remains confident that Lovable’s flexibility offers a competitive edge.

The company’s success is also a milestone for Europe’s startup scene. Investors across the continent hail Lovable as proof that Nordic founders can produce category-defining companies, bolstering confidence in Europe’s ability to compete globally. With high-profile investors like Revolut’s Nik Storonsky and Klarna’s Sebastian Siemiatkowski backing the company, Lovable has become a source of pride for Sweden and beyond. While many European startups eventually shift operations to the U.S., Osika says Lovable will remain rooted in Stockholm for now. In the meantime, the company is inspiring the next generation of Nordic entrepreneurs to aim global from day one.

read more at techcrunch.com