Vibe coding giant Lovable has raised $400m at a $13.3bn valuation, led by existing investor Menlo Ventures and the Scaleup Fund. The Scaleup Fund, managed by Swedish investment firm EQT, was set up to address Europe’s longstanding lack of late-stage capital.

Lovable, a vibe-coding platform that helps users build apps and websites without needing to know how to code, has seen rapid growth. The Stockholm-based company, which was founded in 2024, hit $500m in ARR in June. Other backers include Capital G, Salesforce Ventures, NVentures, DST Global, Khosla Ventures, and Creandum, with Balderton Capital joining the recent raise.

Announcing the deal on LinkedIn, Lovable founder Anton Osika says the most important part of this raise is the accountability it brings. The company falls within the "application layer" AI camp, developing use cases for AI rather than developing the models themselves.