Tencent Invests $400M in Lovable at $13.3B Valuation
Photo: TechNode
Quick answer
Swedish startup Lovable raised $400 million in Series C funding at a $13.3 billion valuation. Its no-code platform enables businesses to build applications without deep programming expertise.
Swedish company Lovable, specializing in a no-code platform for software development without deep technical expertise, announced the closure of its $400 million Series C funding round. The startup's valuation surged to $13.3 billion, underscoring strong investor interest in no-code and low-code solutions.
Leading investors in this round were Menlo Ventures and EQT Scaleup Europe Fund. New participants included Chinese tech giant Tencent*, alongside Balderton Capital, Carmignac, Kaszek Ventures, and other venture funds. The funds will be used to expand platform functionality and scale the business.
Since its launch in November 2024, Lovable users have created over 60 million projects. Apps built on the platform attract over 900 million monthly visits, demonstrating its growing adoption among businesses and consumers. The company positions itself as a tool for rapid digital solution deployment without hiring professional developers.
Common questions
- What does Lovable do?
- Lovable develops a no-code platform for creating software and business applications without traditional programming skills. Users can rapidly build projects using pre-built tools.
- Who invested in Lovable?
- Investors in the Series C round included Menlo Ventures, EQT Scaleup Europe Fund, Tencent, Balderton Capital, Kaszek Ventures, and other venture funds.
- What is Lovable's post-money valuation?
- After raising $400 million, Lovable's valuation reached $13.3 billion.
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