Founded in 2023 by Anton Osika and Fabian Hedin, Lovable has developed a generative AI platform that allows non-technical users to create apps and websites through simple text prompts.

The startup focuses on 'vibe coding,' which emphasizes intuitive design over traditional coding practices, making app development accessible to a broader audience.

Within just six months of launching its web app-building product, Lovable reported an impressive annual recurring revenue (ARR) of over $75 million, positioning it as one of Europe's fastest-growing startups.

Lovable is now seeking to raise over $150 million at a valuation nearing $2 billion, with Accel leading the funding round alongside existing investors like Creandum and 20VC.

If successful, this funding round would mark one of the largest investments in Europe for 2025, reflecting strong investor interest in AI technologies.

This growing interest in Lovable and similar startups highlights a trend among investors to support companies leveraging AI for user-friendly application development.

Accel, known for its early investment in Facebook, is reportedly leading the current funding round, which follows a $15 million pre-Series A round led by Creandum earlier this year.

Lovable's previous funding rounds included €6.8 million in seed funding in October and a $16 million seed round in February, showcasing its rapid growth trajectory.

In addition to its financial success, Lovable was recognized in Sifted's B2B SaaS Rising 100 list, highlighting it as one of Europe's most promising software companies valued under $1 billion.

The trend of 'vibe coding' is gaining traction as it democratizes software development, allowing those without technical skills to create applications more easily.

Recently, Lovable announced a beta version of an AI agent that automates tasks such as code editing and debugging, implementing a usage-based pricing model that could adjust user fees based on activity.

Lovable's platform offers a service that creates complete web apps from text prompts, integrating user interfaces with tools like React and databases like Supabase.