Lovable, the Stockholm-based AI coding platform, is approaching 8 million users, according to CEO Anton Osika, a significant increase from the 2.3 million active users the company reported in July. Osika said the platform is now seeing around 100,000 new products built on Lovable every day. The company, founded just over a year ago, has raised $228 million in total funding, including a $200 million round this summer that valued it at $1.8 billion. While rumors have circulated about new investors eyeing a $5 billion valuation, Osika confirmed the company is not in need of additional capital and declined to comment on future fundraising. At the Web Summit in Lisbon, Osika shared that Lovable has just surpassed 100 employees and is bringing in leadership talent from San Francisco to strengthen its Stockholm headquarters. The platform, which evolved from Osika’s viral open-source tool GPT Engineer, was created with the vision of empowering the 99% of people who don’t know how to code. “I woke up and realized we’re going to reimagine how software is built,” Osika recalled, describing how he woke his co-founder and pitched the idea that very morning. Lovable’s user base is diverse and impressive. Over half of Fortune 500 companies now use the platform to “supercharge creativity,” Osika said. Meanwhile, an 11-year-old in Lisbon built a Facebook clone for his school, and a Swedish duo earns $700,000 annually from a startup launched just seven months ago using Lovable. “What I hear from users is, ‘It just works,’” Osika said, crediting the company’s focus on clean, intuitive design rooted in Swedish sensibility. Despite a recent dip in traffic — Barclays research showed a 40% decline in Lovable’s user visits by September — Osika maintained that retention remains strong, with net dollar retention exceeding 100%, meaning users spend more over time. The company hit $100 million in annual recurring revenue in June, a milestone it publicly celebrated. Security remains a key concern in the emerging vibe coding space. Osika acknowledged a recent incident where an app built on a similar platform leaked 72,000 images, including GPS data and user IDs. He said Lovable is now hiring security engineers at a rapid pace, with the goal of making the platform more secure than traditional human-written code. All apps are now run through multiple security checks before deployment, though the company still recommends that users building sensitive applications — like banking tools — bring in expert human security review. When asked about competition from OpenAI and Anthropic, whose models power Lovable but have also launched their own coding agents, Osika took a collaborative view. “The market is big enough for multiple winners,” he said. “If we can unlock more human creativity and agency, and help people build businesses from good ideas, that’s something to celebrate, no matter who does it.” He described Lovable’s long-term goal as building “the last piece of software” — a unified platform where product teams can go from idea to deployment through a single, intuitive interface. The company’s approach aligns with the “demo, don’t memo” philosophy, where teams build and test prototypes quickly instead of writing lengthy presentations. Despite the rapid growth and attention, Osika, dressed in a simple beige T-shirt and button-down, exuded calm. A former particle physicist and the first employee at Sauna Labs, he emphasized mission-driven culture over hustle. “The best people on my team have kids and care deeply about what they’re doing,” he said. “They’re not working 12-hour days, six days a week.” Though he acknowledged it’s a startup, so workloads are naturally high, he stressed that sustainable, meaningful work matters more than burnout.