Lovable, a Swedish AI startup that lets anyone build apps without writing code, could soon join Europe's elite AI club. The company is in early talks with U.S. investors to raise at least $100 million at a potential valuation north of $1.5 billion, according to people familiar with the discussions. While the terms are still fluid, the interest underscores a growing appetite for no-code platforms that make software development radically easier. Lovable's offering has caught fire in the past six months—especially among non-technical users—at a time when rivals like Anysphere and Windsurf are also attracting big money in the AI-powered coding race.
The numbers are moving fast. Lovable now generates $61 million in annual recurring revenue, up from $50 million just weeks ago. CEO Anton Osika, who previously co-founded Depict.ai, said the company isn't urgently seeking capital but is seeing “unprecedented interest.” Its user base of 130,000 paying customers includes a wide mix, but roughly two-thirds have little to no coding experience. The company charges $25 per month for individual users, while enterprise accounts—now 20% of revenue—are growing even faster. With only 28 employees, the startup is scaling at a pace that's caught the attention of both VCs and strategics, including early backers like Creandum, Antler, and OpenAI board member Adam D'Angelo.
Lovable's rise hasn't come without growing pains. A report in May flagged security vulnerabilities in apps built by its AI tool—an issue Osika said has since been addressed with new safety features. He also suggested apps built by AI could eventually prove more secure than those coded manually, though real-world validation is still ahead. That hasn't slowed investor enthusiasm. As OpenAI circles Windsurf at a $3 billion valuation and Anysphere closes in on a billion-dollar raise, Lovable may be carving its own lane—aimed less at engineers, more at the rest of us. If the funding round lands, it could be a signal that investors are starting to bet big on AI tools built for the masses, not just developers.
