Lovable now aims to expand on its product and infrastructure, and wants to hire across offices globally.

AI vibe-coding start-up Lovable has tapped $400m in fresh funding from the EU’s Scaleup Europe Fund and China’s Tencent in a round that values the Swedish company at $13.3bn.

The Series C round was led by Menlo Ventures and co-led by the $5bn EQT-run EU fund. The raise doubles Lovable’s $6.6bn valuation from last December after a $330m Series B raise, also led by Menlo.

With big backers from around the world – including Balderton Capital, Europe’s Carmignac, World Innovation Lab, Accel, HubSpot and Salesforce – Lovable now aims to expand on its product, infrastructure and team as it looks to challenge the likes of ChatGPT and Claude.

Lovable enables users to build apps and websites using AI. Since its launch in late 2024, users have created more than 60m projects using its tools, the company said. In recent months, it has integrated payment functionalities and other features into its tools to help users monetise their Lovable creations.

“As millions of people build with Lovable, the system gets better at understanding which choices lead to stronger outcomes,” the company said.

The AI start-up said it will grow its global team – spread across Stockholm, London, Boston, San Francisco and New York – to roughly 450 people. Hiring will be focused around machine learning, product, infrastructure and security roles.

The Scaleup Europe Fund, the largest of its kind in Europe, is helping EU-based companies across a range of strategic sectors – including AI, quantum, clean energy, space-tech, biotech and medical innovation – tap high growth capital and support in a bid to better compete with the US and China in emerging technologies.

Finnish space intelligence start-up Iceye was the first to officially tap support from the fund earlier this month, with reports also placing Scaleup Europe behind the Bavarian space-tech The Exploration Company and Paris-based Mistral AI.

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