Lovable’s CEO isn’t too worried about the vibe-coding competition

At the bustling TechBBQ conference in Copenhagen, Anton Osika, co-founder of Lovable, captivated an audience packed into every corner of the Bella Center. His company is making waves in the burgeoning field of vibe coding, a user-friendly approach that empowers individuals, even those without coding backgrounds, to create apps and websites effortlessly. In just eight months since its inception, Lovable has achieved remarkable milestones, boasting over $100 million in annual recurring revenue (ARR) and securing a $200 million Series A funding round, which catapulted its valuation to an impressive $1.8 billion. This rapid ascent has positioned Lovable as Europe’s fastest-growing unicorn, with investors eagerly anticipating a Series B round that could elevate its worth to $4 billion, although Osika has shown no immediate interest in pursuing that path. During his conversation with TechCrunch, Osika articulated his ambition for Lovable: to be the ultimate platform for software development. His vision encompasses not just app creation but also comprehensive support for founders navigating the complexities of product development. He emphasized the importance of addressing various business needs, from payment setups to user analytics and potential company incorporation. In June, Lovable introduced a new agent designed to assist users in reading files, debugging issues, conducting web searches, generating images, and managing files—marking a significant step toward realizing this broader vision. Currently, Lovable serves over 2.3 million active users, including 180,000 paying subscribers. Osika shared insights on their pricing strategy, which focuses on covering operational costs while enabling diverse applications, from marketing platforms to multi-business management tools. Despite some skepticism surrounding the reliability of AI-generated code, Osika remains unfazed. He insists that all code—whether created by humans or AI—should undergo thorough review before deployment. Lovable currently utilizes several foundational models, including Anthropic’s Claude and OpenAI’s GPT-5, though there are inherent tensions, as both companies offer their own product development solutions. Osika’s confidence in Lovable’s unique position stems from its ability to integrate various AI models, thus providing users with unparalleled capabilities and maintaining agility without the burden of excessive infrastructure. "The scope of what you can achieve is constantly expanding," he noted. To maintain a competitive edge, Lovable prioritizes speed, security, and user experience, fostering trust among its customer base. In light of Figma's recent IPO success, which reached a market cap of $19.3 billion on its debut, Osika remains steadfast in his mission to deliver exceptional products to Lovable’s users. His commitment to listening to customer needs remains unwavering. Lovable’s roots are deeply embedded in the Swedish tech scene, with Osika hailing from Stockholm. The company has attracted a roster of prominent investors, including notable figures from the European startup ecosystem. Despite potential pressures to expand to the U.S. for greater funding opportunities, Osika plans to keep Lovable firmly in Europe, supported by a small team in Los Angeles. Inspired by Lovable’s accomplishments, Osika has begun to invest in emerging founders, such as Dennis Green-Lieber’s Propane.ai, which recently secured $1.2 million in seed funding. Green-Lieber acknowledges Lovable’s impact on the Nordic startup landscape, showcasing that with determination and global aspirations, even small teams can achieve remarkable success. Osika’s journey with Lovable exemplifies the potential of the Nordic tech scene, igniting a spirit of ambition and innovation among founders across the continent.