Lovable Becomes Europe’s Unicorn With $200M In Series A Round

The round was led by Accel, with support from existing backers 20VC, ByFounders, Creandum, Hummingbird, and Visionaries Club.

This marks Sweden’s largest-ever Series A round. It comes just months after Lovable raised $15 million in pre-Series A funding in February. Before this latest round, the company had secured a total of $22.5 million.

Founded in 2023, Lovable is known for pioneering “vibe coding”—a concept that helps non-coders easily build apps and websites without needing technical expertise.

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Similar to platforms like Cursor, which assist developers using large language models for coding and app building, Stockholm-based Lovable lets users create websites and apps using natural language—no coding skills needed.

The startup has seen rapid growth, now boasting over 2.3 million active users and continuing its upward trajectory.

While most users are on the free plan, Lovable’s CEO Anton Osika recently shared that the platform now has over 180,000 paying subscribers, generating $75 million in annual recurring revenue (ARR) in just seven months—a major factor behind its massive Series A.

In an interview with Forbes, Lovable CEO Anton Osika said the investment would be used to increase the size of its 45-person team and build out its product to support users working on more complex apps and websites. Lovable says it has more than 2.3m users building apps on its platform.

The round included continued support from 20VC, byFounders, Creandum, Hummingbird, and Visionaries Club. Back in February, Creandum led a $15 million pre-Series A, when the company reported $17 million ARR, 30,000 paying users, and only $2 million spent.

Lovable has achieved this explosive growth with just 45 full-time employees—nearly as many as the star-studded angels in this round, including Klarna CEO Sebastian Siemiatkowski, Remote CEO Job van der Voort, Slack co-founder Stewart Butterfield, and HubSpot co-founder Dharmesh Shah.

Much of Lovable’s traction comes from non-technical users building prototypes that can later be developed further with the help of developers. According to the company, this has resulted in 10 million projects created so far.

Looking ahead, Lovable aims to evolve into a platform for building full-scale, production-ready applications—powering everything from side projects to full businesses.

About Lovable

Lovable is a European AI platform that lets anyone build apps and websites through simple chat. Run by a small, passionate team of founders, engineers, and creators, Lovable aims to be the final tool the world needs to build software—fast, easy, and accessible to all.