Lovable Raises €343 Million Series C to Expand Its Platform and Global Team
Swedish AI software company Lovable has raised €343 million ($400 million) in Series C funding at a valuation of €11.4 billion ($13.3 billion). The Stockholm-based company plans to use the funding to improve its platform, strengthen its technology infrastructure, and grow its team worldwide.
The funding round was led by Menlo Ventures and co-led by the Scaleup Europe Fund, managed by EQT. New investors include Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, Tencent, World Innovation Lab, and Regent.
Existing investors such as Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures, and Salesforce Ventures also joined the funding round.
“Lovable’s first chapter was about making it possible for more people to build software. This next chapter is about helping them run and grow what they build. Since our Series B, we’ve seen people use Lovable to launch products, replace internal tools, create revenue streams, and build real businesses. This funding lets us move faster on the product, infrastructure, and team needed to make Lovable the best place to build and run a business,” says Anton Osika, CEO at Lovable.
Menlo Ventures is a returning investor in Lovable. It previously co-led the company’s €281 million Series B funding round through its Anthology fund in December 2025.
The Scaleup Europe Fund is a newer investor in Lovable. It recently made its first investment by co-leading ICEYE’s €1 billion Series F funding round earlier this month.
“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,” says Matt Murphy, Partner at Menlo Ventures.
“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. We believe Lovable is, and will continue to be, one of the most generational companies of the AI era.”
Lovable’s latest funding round is much larger than other European investments in AI-powered software development this year.
In April, Belfast-based Cloudsmith raised €61.5 million to expand its platform for managing and securing software packages as AI-generated code becomes more common. In June, Cambridge-based Undo raised €31 million to grow its tools for AI-assisted software development.
In Sweden, Stockholm-based Pit raised €13.6 million in May to develop its AI product teams model for building enterprise software. Together, these three funding rounds raised about €106 million, showing how large Lovable’s latest investment is compared with other AI software development deals in 2026.
Lovable says that more than 60 million projects have been created on its platform since its launch in November 2024. Apps built using the platform now receive more than 900 million visits every month.
Within its first year, Lovable says its product was being used by employees at half of the Fortune 500 companies. This number has now grown to nearly two-thirds.
Since its €281 million Series B round in December 2025, Lovable has expanded beyond software creation. It now offers tools that help users launch, manage, and secure the products they build.
With the new funding, Lovable plans to make its platform more useful for everyday business tasks. The company also wants to improve its AI systems by learning from successful products and significantly grow its team.
Lovable says its AI will become more proactive. Instead of only responding to user prompts, it will identify tasks that need attention and help users complete them.
Stockholm will remain the company’s main office, while Lovable plans to expand its presence in London, Boston, San Francisco, and New York.
The investment also makes Lovable one of the first companies supported by EQT’s Scaleup Europe Fund, which was created to help European technology companies expand globally.
“Anton, Fabian, and the Lovable team have built one of the most ambitious and fastest-growing AI companies we’ve seen. They prove that Europe has no shortage of exceptional founders,” says Victor Englesson, Partner at EQT and co-head of the Scaleup Europe Fund.
“We’re excited to co-lead this investment in Lovable through the Scaleup Europe Fund, which reflects exactly why the Fund was established: to help Europe’s most ambitious technology companies become global leaders.”
With its Series C funding, Lovable aims to become a platform that helps founders and employees build, launch, and manage software businesses without depending on traditional software development methods.
The company believes that in the future, more people will be able to create software, including founders without technical backgrounds and employees who understand business problems and want to develop their own solutions.