Fabian Hedin, Co-Founder & CTO of Lovable | Billionaire on a Bike

Fabian Hedin, co-founder and CTO of Lovable, talks with Robert Valentine and Kayvan Nikjou at HumanX in Amsterdam. With Lovable, people who cannot code build websites and apps by describing what they want in plain text. Lovable launched under that name in November 2024 and says it passed $100 million in annual recurring revenue eight months later. In August 2026 it raised $400 million at a valuation of $13.3 billion. Fabian is 27 and in October 2026 Forbes estimated his net worth at $3.1 billion. He says most of it is paper money. He still rides his bike to the office every day. Fabian tells how Lovable grew out of GPT Engineer, a side project of his co-founder Anton Osika. He explains why two earlier launches failed, why the company stayed in Stockholm when people in San Francisco told the founders to move there, how Lovable picks an AI model for each request and how it makes money with credits. About the SaaSpocalypse he says: “If your moat is the code that you have written and only the code, then yes, you're in trouble.” Before the interview Robert and Kayvan look back on HumanX and announce a series of at least six conversations from the conference. New episode every Friday. Recorded at HumanX, Amsterdam. Chapters 0:00 Cold open 0:31 Robert and Kayvan at HumanX 1:26 Six guests and series on events and cities 2:43 Change makers, Europe and Amsterdam 5:02 The interview: Fabian's first time in Amsterdam 6:53 What Lovable is and a Saturday morning walk 9:42 Software for the 99% 12:12 The first prototype and building Lovable with Lovable 15:36 A waitlist, two failed launches and the first round 20:05 Why Lovable stayed in Stockholm 24:05 The first hire, the name and the .com 28:13 The third launch and building for everyone 31:32 How Lovable picks an AI model 33:52 From $1M to $100M ARR and how credits work 37:08 Paper money and day zero 41:48 The SaaSpocalypse and the big AI models 47:00 Next: running your business on Lovable 49:15 Why so many startups come from Stockholm 52:59 FIRE and democratizing AI Correction: at 28:04 Kayvan says someone bought google.com and sold it back to Google. In September 2015 Sanmay Ved bought google.com for $12 through Google Domains. Google cancelled the order after about a minute and later paid him a reward. White Box Rodeo is for information and entertainment only and is not investment advice. The hosts may hold interests in companies they discuss. Watch the video: https://www.youtube.com/watch?v=2QGmPOWW9Tg White Box Rodeo: https://whiteboxrodeo.com Hosts: Robert Valentine and Kayvan Nikjou