Swedish company Lovable is reportedly negotiating a $300 million funding round at a valuation of $13.2 billion, according to Sifted, citing two sources familiar with the matter. This would double the company’s valuation in just six months compared to its Series B round in December.
The Stockholm-based vibe-coding startup has not confirmed anything. According to Sifted, which cites two sources familiar with the deal, the valuation is $13.2 billion on a post-money basis. Negotiations are still ongoing, so the figures could still change. Lovable declined to comment.
It’s a massive leap. In December, the company raised $330 million at a valuation of $6.6 billion. Even then, the valuation had tripled in just five months. Now, another doubling is on the table, this time within six months.
Growth behind the numbers
That valuation is based on more than just optimism. Lovable has surpassed the $500 million mark in annual recurring revenue, despite having only 146 employees. Approximately one million new projects are launched on the platform every week.
The company was founded in 2023 by Anton Osika and Fabian Hedin. Users can build apps and websites using text prompts, without any programming knowledge. Behind the scenes, the tool runs on models such as Claude, GPT, and Gemini.
A crowded market and a leak
Competition in vibe-coding is fierce. Rival Base44 is building its own models to compete. However, Cursor dominates among professional developers and is said to have reached a valuation of $9.2 billion, while Lovable primarily serves non-technical users.
Not everything went smoothly. In April, Lovable came under fire after a vulnerability allowed users to access the source code and chat history of other projects.
Osika shared the stage this morning with entrepreneur Mark Cuban at the Raise summit in Paris. Whether the deal will actually close at $13.2 billion remains to be seen in the coming months.