Lovable, a Swedish vibe-coding startup, raised $400 million in a funding round led by Menlo Ventures and the EU-backed Scaleup Fund, valuing the company at $13.3 billion, according to sifted.eu. The raise follows two rounds last year, including a $200 million Series A and a $330 million Series B, which valued the company at $6.6 billion.
The Scaleup Fund, managed by Swedish investment firm EQT, was created to address Europe’s shortage of late-stage capital. Lovable’s recent round also saw participation from Balderton Capital, joining existing investors such as CapitalG, Salesforce Ventures, NVentures, DST Global, Khosla Ventures, and Creandum. Founded in 2024 and based in Stockholm, Lovable hit $500 million in annual recurring revenue (ARR) in June.
Lovable’s platform enables users to build apps and websites without coding, tapping into the growing no-code/low-code market. The company’s valuation nearly doubled since its Series B in December 2025, reflecting strong investor confidence amid increased demand for accessible software development tools. The EU’s €5 billion Scaleup Fund aims to support such high-growth European startups lacking sufficient late-stage funding options.
Lovable’s pitch deck from late 2025 indicated a target 65% margin by the second half of 2026. The company’s rapid revenue growth and substantial capital raise underscore its expanding footprint in the no-code development sector, with the $400 million Series C round marking a key milestone in its scaling journey.