Lovable has shifted its corporate domicile to Delaware in the United States as part of a company structure that places revenue in an American parent company. The move has fuelled discussion in Sweden about entrepreneurs relocating companies abroad and the tax consequences for their home country.
Founders Anton Osika and Fabian Hedin have said they plan to remain large taxpayers in Sweden. Lovable’s Swedish legal entity reported no turnover for the extended accounting period from November 2024 to December 2025, while showing SEK 138 million in personnel costs. That suggests operational staff costs remain in Sweden even as income flows to the Delaware parent.
CTO Fabian Hedin has explained that the group pays VAT-like charges where users are located and that other tax costs mainly concern employees, who are largely based in Stockholm. Both founders have publicly backed the idea of an EU Inc, saying they would have chosen such a structure instead of Delaware if it had been available when the company was founded. According to reporting, the founders each received SEK 100 million in dividends through their holding companies in 2025. This summer the company raised $400 million at a valuation of SEK 130 billion, and its most recently disclosed ARR was $600 million.