Vibe Coding Turned This Swedish AI Unicorn Into The Fastest Growing Software Startup Ever

Forbes

Stockholm-based Lovable has hit over $100 million in annualized revenue in just eight months by using AI to enable millions of non-coders to instantly turn their ideas into websites, apps and online side hustles.  Read the full story on Forbes: https://www.forbes.com/sites/iainmartin/2025/07/23/vibe-coding-turned-this-swedish-ai-unicorn-into-the-fastest-growing-software-startup-ever/  Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript  Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com  Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

Transcript

00:00Today on Forbes, Vibe Coding turned this Swedish AI unicorn into the fastest growing software

00:07startup ever.

00:10Oskar Munch av Rosenskjöld never planned to be in show business, but over a fika or

00:15coffee break in Stockholm, Sweden, a film producer friend pitched him on a startup idea,

00:21a marketplace to match films with financiers helping European movie makers with the never

00:26ending task of raising money.

00:29Often such ideas never escaped the talking stage, but just a few months later, Framesage

00:34was live and had booked its first $50,000 in revenue, thanks to a new AI coding tool,

00:40Lovable, that Munch av Rosenskjöld used to build the company's plumbing in just 10 days.

00:47Munch av Rosenskjöld was working as a project manager at a pharma company by day and had

00:52never coded before outside of school.

00:54He says, quote,

00:56You feel like you have the magic key to build software.

00:58This has saved us tens of thousands of dollars on developers and around four months' work.

01:04Munch av Rosenskjöld isn't the only young founder to have fallen for Lovable, Sweden's

01:09new AI unicorn.

01:11In June alone, around 750,000 projects, apps, websites, entire businesses were built, hosted,

01:19and launched with a handful of descriptive sentences and a few clicks on Lovable.

01:24This isn't like the clunky website builders of yesteryear, responsible for zillions of

01:28personal sites.

01:29Lovable projects, spun up in minutes thanks to generative AI, are actual working products

01:40with features ranging from email newsletters to payments via Stripe.

01:45Helm was Sweden-based Jaleel Miles, who built his restaurant management startup, QuickTables,

01:50in just two months on Lovable, says, quote,

01:53I was shown Lovable and knew what I was going to do for the coming years.

01:58He has booked over $120,000 in sales from the site since May.

02:03Lovable has become the fastest-growing software startup in history, reaching $100 million in

02:08subscription revenue on an annualized basis, in just eight months since its launch last

02:14November, eclipsing other rocket ships like Israeli cloud security startup Wiz and San

02:19Francisco-based HR platform Deal.

02:22Wiz hit the same benchmark in 18 months, and Deal hit the same benchmark in just under two

02:26years.

02:29Co-founder and CEO Anton Ucica, who is 34 years old, started Lovable in September 2023.

02:36He says, quote,

02:37Humans are builders at heart, but being able to write code or having access to capital has

02:42been the defining part of being able to build software.

02:45Now we are entering a new era.

02:49It's not just scrappy young founders who are building on Lovable.

02:52Rio de Janeiro-based Q Concursox has about 200 staff helping Brazilian students prepare for

02:58college and civil service exams.

03:01CEO Caio Moretti says he used Lovable to spin up a new premium version of its app in just

03:06two weeks.

03:08It made over $3 million in its first 48 hours.

03:11He says, quote,

03:13If we were coding on our legacy platform, it would have taken us a year to build a new product.

03:19It was a pickleball tournament tracking app that did it for Excel partner Ben Fletcher.

03:24The London-based investor built the gadget on Lovable in a weekend, then spun up a tool

03:28that helps Excel sift through startup sales data.

03:32He's now leading a $200 million round in the Swedish startup, which values the 45-person

03:37company at $1.8 billion.

03:40Its co-founder's estimated 50% stake is jointly worth $900 million.

03:45Usika says, quote,

03:47We see Lovable as an opinionated CTO that builds your product for you.

03:52Usika himself has even started writing his own small checks into Lovable's most promising

03:58projects.

03:59The $200 million round, on top of the $23 million it raised previously, should help Lovable fend

04:06off competition from well-funded Bay Area rivals like Replit, which last raised $97 million

04:12at a $1.2 billion valuation, and StackBlitz, which raised $105 million in January and is on

04:20this year's Forbes Next Billion Dollar Startups list.

04:23But it's not just other upstarts Lovable needs to worry about.

04:27AI giants OpenAI and Google, whose Firebase studio can build apps and websites from prompts

04:33in simple English, are also interested in the so-called vibe-coding market.

04:38For full coverage, check out Ian Martin's piece on Forbes.com.

04:44This is Kieran Meadows from Forbes.

04:47Thanks for tuning in.

04:53I'm sorry to say this.

04:54I'm sorry.

04:55Why should I ask you originally?

04:56Whose répond would you give it up?

04:58What should I ask you before?

05:00You know, not all of this...

05:03Any questions?

05:06Another question about funding means is you just a different guy.

05:11On response, research and research.

05:13You're increasing medical planning within you, we're putting this in remote,

05:14and now keep adding which time of priority for eachhammer,

05:17according to belief.

05:18Think of what I am asking for how much?

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