Swedish AI company Lovable has reached a valuation of $1.8bn (Skr17.5bn) following a $200m fundraising round. According to a Bloomberg report, the development positions Lovable as Europe’s latest unicorn.

The funding round was led by Accel and saw participation from existing investors including 20VC, ByFounders, Creandum, Hummingbird, and Visionaries Club.

In June 2025, it was reported that Lovable was holding discussions with US investors to secure at least $100m in funding. In February 2025, the startup raised $15m in a pre-series A funding round led by Creandum.

Founded in 2023, Lovable provides technology that enables users to create apps and websites without needing programming expertise.

Similar to platforms such as Cursor, Lovable uses large language models to assist users in developing websites and applications through natural language. The company is part of the growing ‘vibe coding’ sector, which is gaining attention from both investors and customers.

The startup, based in Stockholm, claims to have more than 2.3 million active users. The recent investment is expected to be used to expand its team and enhance its product offerings to support the development of more complex applications and websites.

In a LinkedIn post, Lovable founder and CEO Anton Osika confirmed the fundraising.

“We’re not just democratising code. We’re helping everyone realise they have things to build,” he said.

Last month, Lovable introduced Agent Mode in beta, a feature designed to autonomously manage tasks such as thinking, planning, and taking actions. The company claims that this upgrade reduces build error rates by 90% and minimises unwanted changes, ultimately improving user goal achievement.