Every seat in the Bella Center in Copenhagen was full, as Anton Osika, co -founder of the AI Lovable encoding application, took the scene at this year’s TechBBQ Congress.
Lovable specializes in providing help to people to create applications and sites, especially people with no encoding experience. It is one of the standouts in the popular AI category known as Vibe encoding, which allows users to guide AI models as they produce code, sites or whole applications.
It was an attractive proposal for users: in just eight months, the Swedish company said it had more than $ 100 million in ARR and increased a $ 200 million AC in valuation of $ 1.8 billion-making its fastest growing Europe. The Financial Times reported that Investors are already hoping to start a series Boffering agreements that would estimate the company at $ 4 billion. So far, there is no indication that Lovable is interested.
Speaking to TechCrunch, Osika has created a vision for Lovable as the best part of making software products: a platform that can take users-founders specifically-through all stages of product development, so that they can build easier to create AI companies.
“If you are running a business, there are many things you want to create, such as payments, understanding of your users and in the future, maybe even as” I have to incorporate my company, “he said.” I want to help with all these things. ”
In late June, adorable released an agent for help Users read files, errors tracking errors, internet search, create images and find files – a first step in the direction of good in this vision.
Lovable says it now has more than 2.3 million active users, of which 180,000 pay subscribers. Osika said the company chose its pricing simply by deciding what would help the company to cover its own costs. His favorite adorable use cases include a merchant that creates a sales training platform and an engineer who performs multiple small businesses on the platform.
TechCrunch event
Francisco
|
27-29 October 2025
“In the past, you could create a really big first design using Lovable. Now, you can create a complete product and looks much more like work with a real developer,” he said.
The code produced by AI has been criticized as overly fragile – Better suitable for demos than finished products – but Osika says she’s not worried. The whole code should be revised before it is published, the CEO said: “Whether it is AI or people created.”
Currently, Lovable operates on other fundamental models, including Claude of Anthropic and Openai’s GPT-5. There is some tension in this relationship, as the man and Openai also operate their own product development services: Claude Code and Codex, respectively. These systems are not exactly the same as adorable, but it is easy to imagine that either the model company is trying to steal Lovable users with a strategic product shift.
So far, Osika does not seem to be worried. He told TechCrunch that Lovable simply focuses on building the best product and is able to do so by utilizing all the different types of AI models, while providers must remain in their own models.
“This puts us in a better position than them,” he continued, arguing that the utilization of numerous foundation models gives its users “incomparable opportunities” while giving the company the flexibility to grow quickly without conveying the weight of the double infrastructure.
“The scope of what you can achieve is constantly expanding,” he continued. To beat the competition, he says the team focuses on how to stay fast and secure, while providing an easy user experience.
“If we continue to do this, we will build more confidence with our customers than anyone else,” he said. “Simple.”
It has been only one month since Figma, one of Lovable’s peers in the application planning area, started the IPO blockbuster, reaching a $ 19.3 billion market a maximum. When asked about Figma, Osika again said that his company focuses on producing the best product for its users.
“As long as we hear our users and give them what they need, that’s all that matters,” he said.
Lovable is already deeply connected to the Swedish technological market. Osika grew up in Stockholm and founded the company there. The company’s list of investors, according to the Pitchbook, includes a list of leading European and angel investors, such as Stefan Lindeberg (Swedish, Scandinavian toy). Fredrik Hjelm (Sweden, founder of Guestit), Greens Ventures (Nordic), Hummingbird Ventures (London). and 20VC (London, founded by Harry Stebbings, who launched the Europe project to channel more investment in the ecosystem).
The CEO of Revolut Nik Storonsky, based in Europe, is also an Angelos investor in the company, as well as Swedish founder Sebastian Siemiatkowski, whose company Klarna is also a loyal customer. Other well -known customers include Hubspot and Photoroom.
Everyone around the conference, investors and founders mourned what the company in Europe means for the Scandinavian starting ecosystem.
“The success of loyal and other European AIs is a success for all of Europe,” said Shamillah Bankiya, director of Dawn Capital, United Kingdom, in an interview with TechCrunch. Although not an investor, her company has followed Osika as a founder for a while and has invested in other AI companies until Dawn.
“Apart from the immediate impact of the thousands of Europeans employed by these companies, the biggest result is cultural,” he continued. “He lifts the bar for ambitious founders throughout Epirus to dream and succeed.”
Osika said that favorite plans to stay in Europe, though it has a team in Los Angeles. Many European technology companies are finally migrating to states for more capital and access to opportunities – but Osika does not see Lovable as one of them, for now.
Following Lovable’s success, Osika began to invest in other founders. Dennis Green-Lieber’s Danish Customer Intelligence Company, PropaneHe just received an investment from Osika as part of the $ 1.2 million pre-seal. Green-Lieber said that Lovable proves what many on the Scandinavian scene already feel: they too have world-class talent and can play on the world stage.
“Yes, we had giants like Zendesk, Unity, Klarna and Spotify in the last decade, but what lovable broadcasts are that with small groups, a global mentality and relentless effort, you can still build a company that determines the category,” he continued. “As a founder. I can say that it is a fire in our ecosystem to see this happen here at home.”
This article was informed to clarify the Osika round invested in.
