‘It’s still day zero’: Lovable is worth $13.3bn, and the EU just became a shareholder
Lovable is worth $13.3bn and its revenue is tripling. The interesting name on the cheque is the European Union.
Lovable has raised $400m at a $13.3bn valuation. The Stockholm company lets people build software by describing it in ordinary language, and it is now one of Europe’s most valuable startups.
Eight months ago it raised $300m at $6.6bn. The valuation has more than doubled since December, and the round was first reported by the Wall Street Journal on Wednesday.
The final figure beat the rumour. Reports last week had Lovable in talks for $300m at $13.2bn, and it closed $100m above that.
Menlo Ventures co-led the round, and Lovable published the details itself. The other co-lead is the Scaleup Europe Fund, and that is the part worth slowing down for.
The European Commission is now a shareholder
The Scaleup Europe Fund is an EU investment vehicle, managed by the Swedish...
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