Swedish vibe-coding startup Lovable has raised $400m in new funding, at a $13.3bn valuation, more than double its valuation at its last funding round, in a round which was co-led by Europe’s new €5bn investment fund. Lovable, one of Europe’s most prominent startups, has raised a Series C round which was co-led by Silicon Valley investor Menlo Ventures and the Scaleup Europe Fund, managed by EQT.
The new funding is more than double Lovable’s December 2025 $6.6bn valuation when it raised $330m. Other investors in the round include Europe’s Balderton Capital and Carmignac, Latin America-based Kaszek Ventures and LTS Growth, Asia’s Tencent and World Innovation Lab and US-based investor Regent.
Returning investors include Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures. Looking ahead, Lovable, which launched in 2024, which allows non-coders to build software, in a practice that is called vibe-coding, said it will continue to leverage multiple AI models to power its tech amid concern about token expense paid out to AI labs from startups like Lovable.
It said: “Lovable will continue to draw on the strengths of multiple models, matching each part of the work to the model best suited to handle it and bringing the results together into one seamless experience. We will also continue post-training promising open-source models, with the goal of making the Lovable experience increasingly personal to each person’s goals, context, and way of working.”
Lovable, which faces competition from startups like Replit and could also face stiffer challenges from the likes of Anthropic and OpenAI should they move further into app creation, said that apps built on top of Lovable see over 900m visits every month.
Stockholm-based Lovable, whose customers include Nvidia, Adidas, and Zendesk, will use the funding to grow the number of its business customers and expansion, including growing its headcount by 50 per cent to 450 this year across Sweden and the US. It will also look to develop Lovable beyond prompts, so it become more proactive with users.
Matt Murphy, Partner, Menlo Ventures, said: "From the very start, Lovable was built for the billions of people with the creativity and knowledge to make something, but who had always been blocked by technical ability. That focus has created extraordinary growth, a product people love, and a market that expands every time someone becomes a founder or a company rethinks how software gets made.“
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