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Tencent Backs Lovable in $400 Million Series C at $13.3 Billion Valuation
Lovable, a Stockholm-based software creation platform, raised $400 million in Series C funding at a valuation of $13.3 billion, led by MenloVentures and EQT’s Scaleup Europe Fund, with participation from Tencent and others. The platform enables users to create software without coding, boasting over 60 million projects and 900 million monthly visits since its launch in November 2024.
Key points
- Lovable raised $400 million in Series C funding.
- Valuation reached $13.3 billion post-funding.
- Led by MenloVentures, co-led by EQT’s Scaleup Europe Fund.
- New investors include Tencent and several others.
- Lovable allows non-programmers to create software, having launched in November 2024.
- Over 60 million projects created on the platform.
- Lovable-built applications receive over 900 million visits monthly.
Why it matters
- The rise of no-code platforms reflects the ongoing trend of democratizing software development, enabling wider access to technology.
- As of 2025, the no-code movement is becoming crucial for businesses looking to innovate quickly and efficiently.
- Tencent's investment ties into broader trends of large tech firms backing disruptive startup models.
Lovable's successful funding round highlights the growing significance of no-code solutions in the tech landscape, aligning with the current trend of enabling broader access to software creation.