Swedish AI software creation platform Lovable has raised €343 million ($400 million) in Series C funding at a €11.4 billion ($13.3 billion) valuation, as the Stockholm-based company looks to expand its platform, infrastructure and global team.
The round was led by Menlo Ventures and co-led by the Scaleup Europe Fund, managed by EQT. New investors include Balderton Capital and Carmignac from Europe, Kaszek Ventures and LTS Growth from Latin America, Tencent and World Innovation Lab from Asia, and Regent from the United States.
Existing backers Accel, Antler, CapitalG, DST Global, Evantic Capital, HubSpot Ventures and Salesforce Ventures also participated.
“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 backer, having previously co-led Lovable’s €281 million Series B through its Anthology fund in December 2025, while the Scaleup Europe Fund only recently made its first investment, co-leading ICEYE’s €1 billion Series F 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 announcement stands out against other European funding rounds in AI-assisted software development and developer tooling 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 widespread, while Cambridge-based Undo secured €31 million in June to scale its runtime analysis tools for AI-assisted software engineering.
In Sweden, Stockholm-based Pit raised €13.6 million in May to develop its “AI product teams as a service” model for building production-grade enterprise software.
Together, these three rounds total around €106 million, underlining the scale of Lovable’s latest raise relative to other 2026 investments in the surrounding AI software development ecosystem.
The company says that since launching in November 2024, more than 60 million projects have been created using Lovable, according to the company, while applications built on the platform now receive more than 900 million visits each month.
Following this, within its first year, Lovable says its product had reached employees at half of the Fortune 500, a figure that has since increased to nearly two-thirds.
Since its Series B in December 2025, the company has expanded beyond software creation into tools designed to help users commercialise, operate and secure the products they build.
With the fresh capital, Lovable plans to make its platform capable of supporting more day-to-day business operations, improve its AI systems using signals from successful products, and significantly expand its workforce. The company says its product will become increasingly proactive, moving beyond responding to prompts towards identifying tasks requiring attention and helping users execute them.
Stockholm will remain Lovable’s main hub, alongside plans to expand its presence in London, Boston, San Francisco and New York.
The investment also makes Lovable one of the first companies backed by EQT’s Scaleup Europe Fund, established to support European technology companies expanding internationally.
“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 the Series C, Lovable is positioning itself as infrastructure through which founders and employees can build, launch and operate software-driven businesses without relying on conventional development processes.
Its longer-term bet is that software will increasingly be created by a broader group of people, including founders without engineering backgrounds and employees inside established companies who understand the problems they want to solve firsthand.