Stockholm-based startup Lovable recently made headlines after raising $330 million in its Series B round. The round was led by CapitalG (formerly Google Capital) and Menlo Ventures. This has ballooned up Lovable’s valuation to a staggering $6.6 billion. That bump in valuation represents an enormous 382,386% increase. This brings the company’s valuation up significantly from the $1.8 billion at the time of its Series A funding round in July 2025.
Founded in 2024, Lovable has already made quite a name for itself on the tech scene with its patented “vibe-coding” tool. This powerful platform lets users harness natural language input to automate code creation, making it faster to create full-featured applications. Besides its product-driven growth, Lovable gave a good start-up story, achieving $100 million in annual recurring revenue (ARR) in just eight months since its launch. The company followed that up by doubling that number, crossing the $200 million ARR threshold less than four months later.
Anton Osika, Lovable’s co-founder and CEO, credits the company’s rapid growth to a strategic decision: he chose to keep the company based in Sweden rather than relocating to Silicon Valley despite investor pressure.
“It was tempting, but I really resisted that,” – Anton Osika
Osika believes that Lovable’s journey serves as a testament to the potential of building a global AI company from Sweden.
“I can sit here now and say, ‘Look, guys, you can build a global AI company from this country,’” – Anton Osika
This additional funding will greatly accelerate Lovable’s platform. We’ll continue to leverage more third-party app integrations and grow functionality that is inherently designed for enterprise-scale use-cases. Lovable is on a mission to help create that infrastructure. This means designing databases, payment systems, and hosting solutions to power complex applications and services.
Even with this tremendous growth curve, Lovable has been under fire for its tax policy. The startup has already been under fire this year for not paying VAT. As a consumption tax, this is one of the most widely applied taxes on goods and services across the European Union.