As Lovable hits $200M ARR, its CEO credits staying in Europe for its success

Swedish vibe-coding unicorn Lovable has reached a significant milestone, doubling its annual recurring revenue to $200 million ARR in just four months, co-founder and CEO Anton Osika announced onstage at Slush 2025 in Helsinki. The achievement comes only a few months after the startup, barely a year old, crossed the $100 million ARR mark in July.

Osika attributed Lovable’s rapid rise to the company’s decision to stay rooted in Europe rather than relocating to Silicon Valley — despite significant pressure early on to do so. He said many advisors insisted the company needed to move to the U.S. to thrive, but he chose to keep its headquarters in Sweden.

“It was tempting, but I really pushed back,” Osika said. “Now I can sit here and say, ‘Look, you can build a global AI company from here.’ If your mission is strong, you’ll find incredible talent, and there’s a real sense of urgency when everyone works together in person.”

He added that Europe’s AI landscape, which moves at a slightly slower pace than Silicon Valley, has actually worked in Lovable’s favour.
According to Zhenya Loginov, partner at Accel, the startup “flipped the script” by attracting top Silicon Valley talent — including hires from Notion and Gusto — to relocate to Stockholm and collaborate on-site.

Osika also highlighted the importance of the company’s user community, noting that their constant engagement has directly shaped Lovable’s product evolution.

“We see this incredibly active community driving everything forward,” he said. “They’ve been debating workflows on Discord for hundreds of hours — even down to WordPress operations. That energy fuels what we build.”

Lovable’s momentum comes during a surge of investor enthusiasm for vibe-coding platforms. Just last week, AI coding assistant Cursor announced a massive $2.3 billion funding round, valuing it at $29.3 billion, with Accel also participating.

Since its launch a year ago, Lovable has secured more than $225 million in venture investment. The company’s most recent raise was a $200 million Series A round in July, backed by Accel and over 20 additional investors, pushing its valuation to $1.8 billion.

This article has been updated to reflect Lovable’s user community better.