Every seat in Copenhagen’s Bella Center was filled as Anton Osika, co-founder of AI-powered app-building platform Lovable, took the stage at this year’s TechBBQ conference.
Lovable, which helps people with little or no coding experience build apps and websites, has quickly emerged as one of the biggest players in the growing “vibe coding” category. In just eight months, the Swedish company surpassed $100 million in annual recurring revenue (ARR) and closed a $200 million Series A round at a $1.8 billion valuation, making it Europe’s fastest-growing unicorn.
Investors are already pushing for a Series B that could value the company at $4 billion, according to the Financial Times. But Osika told TechCrunch that Lovable’s focus remains on helping founders build AI-native companies by guiding them through every stage of product development, from payments to user analytics, and even company incorporation in the future.
“In the past, you could create a really great first draft using Lovable. Now, you can build a full product and it’s much more like working with a real developer,” Osika said.
The company recently rolled out an AI agent capable of reading files, debugging errors, searching the web, generating images, and more, a step toward its vision of becoming a full-stack product development partner. Lovable currently integrates with foundation models from Anthropic and OpenAI, though both run competing services. Osika argues Lovable’s multi-model approach gives it an edge.
The platform now boasts 2.3 million active users, including 180,000 paying subscribers, with clients ranging from Klarna and HubSpot to Photoroom. Investors include Revolut CEO Nik Storonsky, Klarna founder Sebastian Siemiatkowski, and firms such as Greens Ventures, Hummingbird Ventures, and 20VC.
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Despite mounting interest from U.S. markets, Osika says Lovable intends to stay rooted in Europe, where it has become a cultural touchstone for Nordic startups. “The success of Lovable and other European AI unicorns is a success for all of Europe,” Shamillah Bankiya of Dawn Capital told TechCrunch, noting the company’s rapid rise is inspiring new founders across the continent.
Osika himself has started backing European startups, including a recent seed investment in Danish consumer intelligence company Propane.ai. For Nordic founders, Lovable’s meteoric trajectory has sparked fresh belief in their ecosystem.
“With small teams, a global mindset, and relentless effort, you can still build a category-defining company,” said Propane.ai founder Dennis Green-Lieber. “Lovable proves that right here at home.”
