The Lovable AI coding platform — one of the hottest startups in Europe’s tech scene — is showing no signs of slowing down. CEO Anton Osika revealed that the company is approaching 8 million users, marking a huge leap from the 2.3 million it reported just a few months ago.

Founded only a year ago in Stockholm, Lovable has become a favorite among developers and non-coders alike, enabling users to build apps and digital products simply by describing them in natural language.

Osika shared during the Web Summit in Lisbon that Lovable now sees over 100,000 new products created every single day — a staggering metric that highlights the platform’s explosive growth.

Rapid Growth and Rising Valuation

The Lovable AI coding platform has already attracted $228 million in funding, including a $200 million round earlier this year that valued it at $1.8 billion. Industry insiders suggest investors are now circling at valuations as high as $5 billion — though Osika insists Lovable is in no rush to raise more money.

When asked about the company’s revenue, Osika declined to share new figures but confirmed that Lovable surpassed $100 million in annual recurring revenue (ARR) in June. Despite questions about whether the “vibe coding” trend is sustainable, he emphasized that retention remains strong, with users spending more over time.

“We have more than 100% net dollar retention,” he said. “That means people aren’t just sticking around — they’re investing more into what Lovable helps them create.”

Who’s Using the Lovable AI Coding Platform?

Lovable’s user base is as diverse as it is massive. According to Osika, over half of Fortune 500 companies now use the Lovable AI coding platform to prototype products and test ideas.

But it’s not just enterprises — an 11-year-old student in Lisbon built a Facebook clone for his school, while two Swedish creators reportedly earn over $700,000 annually from a startup they launched using Lovable.

“What I hear from people is, ‘It just works,’” Osika said with a smile, crediting Lovable’s clean design and intuitive workflow — hallmarks of Swedish product sensibility.

Tackling Security and Scaling Challenges

The Lovable AI coding platform isn’t without challenges. A recent incident involving leaked app data sparked questions about the safety of AI-generated applications. Osika admitted security is “a top priority” for the company and said Lovable is doubling its team of security engineers.

“Our goal is to make building with Lovable more secure than traditional coding,” he said. “Before any deployment, we now run multiple automated security checks.”

He noted that while the platform helps users move faster, sensitive industries like finance or healthcare should still consult professional security experts before launch.

Competing With AI Giants

Lovable relies on models from OpenAI and Anthropic, which have both released their own AI coding tools. But Osika doesn’t see that as a threat.

“The world is big enough for multiple winners,” he said. “If we can help more people build, innovate, and create — that’s a win for everyone.”

Rather than focusing on competitors like Replit or Vercel, Osika says his team is laser-focused on user experience. “Our mission is to build the most intuitive experience for humans — the last piece of software people will ever need to create.”

Building a Sustainable Work Culture

Despite Lovable’s meteoric rise, Osika rejects Silicon Valley’s hustle culture. “The best people on my team have kids,” he said. “They care deeply about what we’re building — but they also have a life. That’s what keeps us grounded.”

The Lovable AI coding platform now employs over 100 people, including new leadership hires from San Francisco to strengthen its Stockholm HQ.

The Bigger Vision

Lovable started as an open-source project called GPT Engineer, but Osika quickly saw a bigger vision: making software creation accessible to everyone — even those with zero coding experience.

“Lovable is about turning ideas into working software instantly,” he said. “Whether you’re a developer, designer, or dreamer — we want to make it possible for anyone to build.”

It’s that vision — combining creativity, simplicity, and power — that’s helped Lovable become one of the world’s fastest-growing AI platforms. And if its current trajectory continues, the Lovable AI coding platform could soon be a household name in tech innovation.