How Lovable Went from Experiment to Europe’s Fastest‐Growing AI Startup

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AI Breakdowns: Lovable.dev

The Startup That Taught the World to “Vibe Code”

What if you could build a fully functional web app by just chatting with an AI? That’s the idea Lovable.dev launched in November 2023, and it resonated deeply.

Within weeks, Lovable turned from a bold experiment into a loveable platform powering thousands of apps and companies. By mid‑2025, it had become one of Europe's most talked-about AI startups—with narrative and numbers to match.

Chapter 1: A Spark of Vibe — From GPT Engineer to Global Platform

Lovable.dev grew out of an open-source project called GPT Engineer, built by founders Anton Osika and Fabian Hedin in Stockholm. It started as an experiment to generate full-stack code with natural language prompts—and quickly attracted attention from developers and creators.

Realizing the broader potential, they built a full platform based on the idea of “vibe coding”: prompt → code → ship. No designer. No setup. Just human intent and AI execution.

Chapter 2: Growth That Felt Magical

Lovable’s users didn’t need technical knowledge. They just knew it felt transformative:

• Startups launched MVPs in under an hour

• Creators coded pitch pages from prompts

• Hackathons produced investor-ready SaaS

The platform reached $4M ARR in four weeks, and hit $17M ARR within three months—remarkable growth fueled by word-of-mouth and product magic.

By early 2025, it served over 30,000 paying users, supported 30k app creations per day, and was planning for 1.8B valuation investment led by Accel.

Chapter 3: Product That Felt Lovable

• Chat-based UI—no drag-and-drop needed

• Full-stack generation—frontend, backend, auth, database, API

• GitHub/Supabase integration—you own the code

• Collaborative & secure workspaces for solo and team use

• Security scan and Dev Mode in newer versions to protect your builds and fine-tune projects.

This experience felt like coding with a friend rather than fighting configuration files—and that emotional experience drove strong retention.

Chapter 4: Funding and Valuation — Love from Investors

Lovable raised $15M in pre‑Series A led by Creandum with participation from Charlie Songhurst and Thomas Wolf. Soon after, Accel signed on to lead a round valuing the startup above $1.5‑1.8B just months after launch.

Their meteoric rise sparked headlines across Business Insider, FT, and more—often highlighting them as the fastest-growing software company in history.

Chapter 5: Lessons in Lovability

1. Human-first product design: Make tech feel like collaboration, not complexity.

2. Leverage narrative & velocity: Build in public, ship fast, let the story spark engagement.

3. Freemium turned monetization: Great retention -> upgrade flow -> predictable revenue.

4. Foreign markets matter: Stockholm couldn’t just produce a tool—it needed to produce a message. Lovable did both.

5. Metrics matter—but transparency matters more: The ARR driven headlines drew scrutiny for lacking standard definitions—indicating when to share data and when to contextualize it.

Final Thought

Lovable.dev didn’t just create an AI app builder—they created a movement. It showed that coding no longer belongs only to devs. For startups, solopreneurs, creatives—AI democratized software making.

By focusing on vibe, usability, and emotional connection, Lovable went from startup hopeful to unicorn darling in record time.

Want to follow along as they roll out the next big chapters—or should we continue with the next AI Breakdown story?

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Marco Fazio Editor,
Latestly AI,
Forbes 30 Under 30

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