Today, we're excited to share that the Scaleup Europe Fund, managed by EQT, is co-leading Lovable's $400 million Series C alongside Menlo Ventures, at a $13.3 billion valuation.

After first backing Lovable in its Series B in December 2025, we're deepening our partnership with one of the fastest-moving companies in European technology, and one that represents exactly what the Scaleup Europe Fund was created to support: exceptional European founders building a category-defining technology company with global ambition.

The round also broadens Lovable's investor base, with new backers joining from Europe, Latin America, Asia and the US, a group as international as the company itself.

Why Lovable

The best business ideas come from the people closest to the problem. They belong to the operator who has run the same broken process for years, the entrepreneur who knows exactly what their customers need, and the founder who understands a market from the inside. Until now, turning that knowledge into software meant raising capital, hiring engineers and waiting months for a first version, a bar high enough that many ideas were never tested at all.

Lovable removes these constraints. Anyone can describe what they want in plain language and get back a production-grade application: no code, no engineering team, no upfront capital. The idea is the only requirement.

The response has been remarkable: more than 60 million projects built in under two years, over 900 million monthly visits to what's been created, and most builders working on a business they intend to monetise, many already earning revenue.

The same shift is underway inside large enterprises. Employees at nearly two-thirds of the Fortune 500 now build with Lovable, while companies including Adidas, NVIDIA and Deutsche Telekom are using it to create software around their own workflows and rethink the tools their teams rely on.

From Creation Tool to Operating Platform

For most people building on Lovable, the app is just the starting point, the goal is a business that wins customers and earns revenue.

Lovable is now meeting builders across that journey, adding payments, discoverability, integrations and enterprise-grade security and governance, and evolving into a platform on which businesses can increasingly be created and run end to end.

In the UK, a founder built a fashion app without writing a line of code and has grown it to hundreds of thousands of customers. In Brazil, an entrepreneur runs an entire education company on Lovable, including its CRM, finance and sales workflows.

Lovable's position also allows it to benefit from advances across the AI ecosystem. It sits above individual models, orchestrating several frontier models and using the right one for each task, so improvements across the underlying technology can flow into the product.

At the same time, tens of millions of projects give Lovable an increasingly rich understanding of what people build and what succeeds. Each successful product has the potential to make the system better for the next builder.

Built in Europe. Scaling Globally.

Lovable is also a powerful example of what is happening in European technology.

Europe has no shortage of exceptional founders, breakthrough technology or global ambition. The challenge comes when its most successful companies reach the scale-up stage.

At that point, European companies have historically relied heavily on US growth capital. Global capital is an important part of building global companies, and Lovable's new investor base reflects that. But Europe also needs investors with the scale and ambition to continue backing its best companies as they grow. That's the gap the Scaleup Europe Fund was established to help address.

The objective isn't to keep European companies focused on Europe. It's to give founders greater choice: the ability to remain independent, continue taking risks and build global category leaders while maintaining strong roots in Europe.

And capital is only part of that equation. Through EQT's global platform, Lovable can access customers, experienced operators, advisors, industrial expertise and long-term capital as it scales. Companies across EQT's portfolio are already building with Lovable: from product teams shipping applications while engineering resources are constrained, to teams creating their own tools reducing or even eliminating software costs, and shaping how they actually work. 

Lovable remains anchored in Stockholm while building hubs in London, Boston, San Francisco and New York. European roots and global ambition can, and should, go hand in hand.

We're incredibly proud to deepen our partnership with Anton, Fabian and the entire Lovable team as they build the platform for the next generation of businesses.

This is a marketing communication. Please refer to the information document of the Scaleup Europe Fund before making any final investment decisions.