Cyprus · 20+ years building
Entrepreneur, investor and philanthropist. Co-founder of Palta and Servers.com — building, backing and giving back across tech, community and culture.
01 — About
A key figure in Cyprus's tech ecosystem, Alexey Gubarev has been based on the island for over 20 years — founding and investing in companies across IT infrastructure, internet and network technology, with deep experience in utilities and construction.
His journey includes co-founding Servers.com, a global bare-metal provider with data centers across North America, Europe and Asia, and building Palta, a health and well-being venture studio. As a co-founder of TechIsland, he works to transform the Cypriot tech space — establishing international partnerships, creating spaces for collaboration, and developing next-generation educational opportunities.
02 — Business
Health & well-being venture studio
A new type of venture firm co-founded with Yuri Gurski, partnering with entrepreneurs to build and scale market-leading products in Europe. Exits include Matter (to Google, 2017) and Wannaby (to Farfetch, 2022). Today's portfolio features Simple and Flo — the world's leading period-tracking app.
palta.com →Flo valuation after $200M Series C, 2024 (led by General Atlantic)
Global IaaS hosting platform
A global infrastructure platform delivering compute, storage and networking with a specialty in single-tenant solutions. As shareholder and CEO, Alexey drove growth by retaining Fortune 100 clients and executing strategic acquisitions, expanding the company's geographic reach.
servers.com →Fully acquired by CloudOne Digital, 2023. TechCrunch →
04 — Cultural
Cultural
Since 2018, a Mad Max-inspired off-road rally bringing business leaders and IT professionals across Mongolia, Baikal, Altai, Kyrgyzstan, China and Namibia — custom post-apocalyptic vehicles, thousands of kilometers, and a mission of global peace and collaboration.
madwayrally.com →
Opening March 2027
A 3,900m² retro car museum inside Bishkek's former Western Bus Terminal — around 80 rare vehicles spanning a century, four halls and nine thematic zones, telling the story of the Soviet automotive era and the building itself.
Construction Week →05 — In the Press
06 — FAQ
Alexey Gubarev is an entrepreneur, investor and philanthropist based in Cyprus for over 20 years. He co-founded the health and well-being venture studio Palta and the global hosting platform Servers.com, and is a founding member of TechIsland, the largest non-profit IT association in Cyprus.
He co-founded Servers.com, a global IaaS and bare-metal hosting platform, and Palta, a health and well-being venture studio whose portfolio includes Flo and Simple. He is also a founding member of TechIsland in Cyprus.
Yes — Servers.com was fully acquired by CloudOne Digital in early 2023.
Palta is a health and well-being venture studio co-founded by Alexey Gubarev and Yuri Gurski. Its portfolio includes Flo, the world’s leading period-tracking app, which surpassed a $1 billion valuation in 2024, and Simple. Earlier exits include Matter (to Google, 2017) and Wannaby (to Farfetch, 2022).
He has funded schools, parks and community spaces in Cyprus — including the City Skate Park and Pareklisia Park — personally led the rebuild of the Arakapas school after the wildfires, and supported City Friends Club, the Cacoyannis Monument and the Monument of Peace and Tolerance. He also founded the MadWay Rally and is building a retro car museum in Bishkek, opening in 2027.
03 — Social
Charity
Funding schools, non-profit organizations, parks and recreational spaces — and supporting environmental and cultural initiatives that improve life in local communities across Cyprus.
Founding member
TechIsland
TechIsland is the largest non-profit IT association in Cyprus, comprising over 350 member companies that collectively employ more than 20,000 people locally and over 41,000 internationally. Its mission is to establish Cyprus as a world-class destination for global talent.
The association aims to make the tech industry the primary driver of GDP growth and job creation by 2030. As a founding member, Alexey supports innovation, builds spaces for collaboration, and develops next-generation educational opportunities.
Limassol · December 2023
City Skate Park
City Skate Park opened in Limassol in December 2023. Alexey and Anna Gubarev were the authors of the concept and its realisation, gifting the park to the city with the support of other individuals and companies from Cyprus.
The 5,000-square-meter park is free to the public and ranks among the ten largest skateparks in Europe. Built to Olympic standards, it is the first professional facility in Cyprus capable of hosting large-scale competitions.
Pareklisia, Limassol · 2021
Pareklisia Park
Addressing a gap in public recreational spaces in eastern Limassol, Alexey Gubarev partnered with fellow philanthropists in 2021 to create a unique park in Pareklisia. This 3,000-square-meter park was a purely private initiative, with the group covering the €240,000 construction cost and funding the monthly maintenance.
Overlooking the sea, it is distinguished by exclusive planting of Cypriot flora, a children's playground, paved pathways and benches — a vital green space for the community.
Environmental charity · since 2021
City Friends Club
City Friends Club is an environmental charity founded by Anna Gubareva — a family initiative that grew into one of Cyprus's leading environmental community projects, born during COVID when the family began cleaning their neighbourhood.
Alexey supported it from the start; his initial capital allowed it to launch operations, open its first office and buy vehicles. Today it is the first environmental organization in Cyprus operating under ISO 14001 certification.
Limassol · May 2024
Michael Cacoyannis Monument
In May 2024, the world's first monument to the celebrated Cypriot director Michael Cacoyannis was unveiled in Limassol, by the sea near the Amathus hotel.
The idea belongs to Alexey and Anna Gubarev. The composition, by artist Philippos Yiapanis, depicts Cacoyannis behind a camera with an outstretched hand, accompanied by film reels.
Limassol seafront · 2019
Monument of Peace and Tolerance
In 2019, the Monument of Peace and Tolerance was installed on the Limassol seafront, supported by Anna and Alexey Gubarev and crafted by Cypriot sculptor Philippos Yiapanis.
It features a bronze olive-tree trunk supporting a globe crowned by two doves, with a plaque quoting Article 3 of the Universal Declaration of Human Rights — embodying humanism and global peace.
Arakapas, Cyprus
Arakapas School
After devastating wildfires swept through the Arakapas area of Cyprus and left its high school badly damaged, the school was rebuilt and transformed into a safe, modern learning environment for local students.
Alexey Gubarev personally led and delivered this project, working with TechIsland to restore the school for the community.