- According to four sources cited by Forbes, Lovable is in talks for new funding at a $12 billion valuation.
- If the deal goes through, the Stockholm startup’s valuation would almost double from $6.6 billion in December 2025, after reaching $400 million in annual recurring revenue.
- The terms are not final yet, and a company spokesperson did not confirm any details about the upcoming funding round.
Lovable was valued at $6.6 billion in December 2025. Now, according to four sources cited by Forbes, the company is negotiating a round that could almost double that figure.
Vibe coding is gaining traction, with the global low-code and no-code platform market projected to grow from $48.91 billion in 2026 to $376.92 billion by 2034. Investors are looking for companies ready for this change, and Lovable is among the fastest-growing.
The Swedish startup was founded in November 2023 by Anton Osika and Fabian Hedin, both graduates of KTH Royal Institute of Technology. The company grew out of GPT Engineer, Osika’s open-source coding tool, which quickly became one of GitHub’s fastest-growing repositories that year. Osika previously worked as a particle physicist at CERN and co-founded Depict.ai, while Hedin developed assistive technology for Stephen Hawking.
Lovable lets people without coding experience create software by turning natural-language prompts into full-stack applications. This includes interface design, backend logic, databases, and deployment, all in one step. For example, an operations team can describe an internal tool in plain English, so they don’t have to file a ticket or wait for engineers.
The company stands out by focusing on non-technical users, while companies like Anysphere, Replit, and Cognition mainly serve professional engineers. This approach has fueled Lovable’s growth, with more than one million new projects created each week and 25 million since launch, according to Tech Funding News’s prior reporting.
Competition in this sector is strong and well-funded. SpaceX has agreed to buy the rights to Cursor for $60 billion. Replit, valued at $9 billion, expects to pass $1 billion in annual recurring revenue this year. Cognition is valued at $26 billion, with an estimated revenue run rate of $490 million.
Lovable has grown quickly. It raised $200 million in a Series A round in July 2025 at a $1.8 billion valuation, then secured $330 million in a Series B in December 2025 at a $6.6 billion valuation, led by CapitalG and Menlo Ventures’ Anthology fund. The company has raised $653 million over four rounds.
Osika and Hedin each own about 24% of the company, valued at around $1.6 billion each after the December round, and both have pledged to donate half of their future exit proceeds to charity.
No investor has been named for the new round, and Lovable has not shared how it will use the new capital. Meanwhile, Google Cloud has expanded its partnership with Lovable, offering Gemini models and infrastructure to support its enterprise customers.
If Lovable reaches a $12 billion valuation, it will have added more value in six months than most startups do in ten years. The main question is whether its retention and revenue can keep pace with this growth, or whether investors are simply eager to join Europe’s fastest-growing AI company.
