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Making a fortune in Moldova

Moldova is no longer just a place to leave. It’s becoming a platform to grow

May 23, 2025

6 min read

May 23, 2025

6 min read

Eugene Tsyrklevich, CEO of Parkopedia: 'When I launched Parkopedia, I had no investors, no contacts, and no team'. Photo by Iurie Gandrabura.

Eugene Tsyrklevich, founder and CEO of Parkopedia, glides past rows of desks on a bicycle in his company’s Chișinău office. The glass-walled space is large enough for a 15-metre ride; a fitting metaphor for a company built on movement.

Founded in 2007, Parkopedia now maps over 90 million parking spaces across more than 20,000 cities. Its technology is integrated into car systems from BMW, Audi, and Toyota. In February 2025, the company was acquired by EasyPark Group, one of the largest global mobility platforms. With an estimated worth of over 13.15 million euros, this fast-growing Danish company has approximately 45 million yearly users. “With the addition of Parkopedia, we are making the driver journey more seamless,” says Cameron Clayton, CEO of EasyPark Group.

Eugene Tsyrklevich, who remains CEO, called the acquisition, “a transformative moment for data-driven mobility”. When asked if the acquisition had been financially rewarding, he paused before replying, “It has”.

But Parkopedia wasn’t born in the start-up capital of San Francisco. “When I launched Parkopedia, I had no investors, no contacts, and no team,” he recalls. “I built the first version myself: wrote the code, uploaded the photos, answered support emails, even took out the trash.” The first employees? Moldovan. “I couldn’t afford to hire in London or California.”

Eugene’s background mirrors the journey of many expats: born in Moldova, studied in the US, and founded a company in the UK. But as Parkopedia scaled, Moldova re-entered his plans. He now spends part of his work year in Chișinău. 

The Moldova Innovation Technology Park (MITP) plays a major role. The company’s Moldovan team operates within this special platform, which offers a flat seven per cent tax rate and simplified administrative processes. 

Investments and ambitions

Chișinău wasn’t just a satellite for Eugene Tsyrklevich. It became the business core. Even though the product didn’t launch in Moldova until years later, it was built there from day one. Today, Parkopedia’s office in Moldova develops core features like AI algorithms for predicting parking and EV charging availability. The team handles customer service, data entry, and backend systems—all under one roof. Besides, Eugene is a member of the board of directors of Startup Moldova.

And he is not the only Moldovan founder who’s helping the start-up ecosystem in Moldova using global experience to reshape local potential.

Dmitri Liberman, COO of the e-mobility start-up Port and former regional expansion lead at Bolt, is a different kind of returnee, one who never truly left. After launching Uber in Ukraine and managing operations at Delivery Hero, Liberman joined Bolt to scale Bolt Food and Bolt Market from a pilot stage to continent-wide platforms.

Dmitri Liberman (left) and colleagues pose in Bolt Food jackets, representing the e-mobility start-ups scaled by Moldovan founders.
Dimitri Liberman (left). Photo: Dmitri Liberman/Bolt

Born in Moldova and educated in Bulgaria, Liberman built his career scaling operations for Uber, Delivery Hero, and Bolt across Europe and Africa.

“In Sweden, people want organic vegan options. In Nairobi, it’s all about affordable fast food,” he says. That experience taught him to scale fast, adapt constantly, and lead globally distributed teams. Now, as COO of Port, Liberman is building a different kind of mobility system: a network of urban e-bike hubs for delivery riders.

In just one year, Port has deployed over 1,000 e-bikes across London and Stockholm. “We’re not just adding vehicles,” he says. “We’re redesigning infrastructure.” Each hub provides fully charged bikes, on-site maintenance, and custom software for route planning and battery swaps. In major cities, one hub can serve up to 150 riders daily.

What makes Moldova relevant again is not nostalgia, but opportunity. “I’m not trying to just come home. I’m trying to build where it makes sense,” he explains. Liberman sees Moldova’s sharp engineering talent, lean operating costs, and favourable tax regime of MITP as assets for launching future mobility and AI products. “Being Moldovan taught me to be frugal, alert, and resilient,” he says. “That mindset is a superpower in fast-moving tech.” 

A man on a Port e-bike at a charging hub, illustrating the new mobility system being built for delivery riders.
As COO of Port, Liberman is building a different kind of mobility system

With Port planning to quadruple its fleet this year and already designing its own charging stations, Liberman’s strategic eye is back on Chișinău as a possible site for pilots and as a place where the next global tech founders may emerge.

Soil and talents for business 

Valeria Vulpe, a former Google data scientist who spent eight years working in search analytics, is among the Moldovan expats exploring new ways to reconnect with their home country. Raised in Chișinău, she left to study in the US and UK and eventually joined Google’s California office. While she didn’t engage professionally with Moldova during her corporate years, she maintained close personal ties and now sees fresh opportunities to contribute.

“I’ve always cared about Moldova,” she says. “I just never saw a clear way to get involved.” That changed during the pandemic, when remote work gave her more flexibility. Then, she held a packed stand-up workshop in Chișinău. Now, Valeria works as a mentor and freelance advisor, helping people prepare for tech interviews and understand how global companies function. 

Former Google employee Valeria Vulpe stands next to a large Android robot statue.
Former Google employee Valeria Vulpe. Photo: Valeria Vulpe

“Moldova is underpriced talent,” says Vasile Tofan, senior partner at Horizon Capital, a leading regional private equity firm.

From an investor’s point of view, Tofan believes the country’s next leap won’t be driven by sentiment, but by strategy. “The IT sector has been mostly service-oriented. What’s missing is the belief that Moldovans can build and lead global products,” he says. “Ultimately, business comes down to people. Integrity is ground zero. Without that, everything else collapses.”

He also sees Moldova as part of a broader geopolitical shift. “If you ask me where the frontier of the free world is today, I’d say Ukraine; and Moldova comes as part of the package,” he adds.

That mindset aligns with how founders like Eugene Tsyrklevich and Dmitri Liberman now operate. “You don’t have to be in San Francisco to launch something global,” Liberman says. Eugene credits Moldova as foundational: “Moldova allowed Parkopedia to exist.” For him, Chișinău is not a retreat; it’s a base. “I don’t just visit Moldova. I belong here, just as I do in London or California. This is where the story started.”

Eugene Tsyrklevich, CEO of Parkopedia: ‘When I launched Parkopedia, I had no investors, no contacts, and no team’. Photo by Iurie Gandrabura.

Iurie Gandrabura

Iurie Gandrabura

Iurie Gandrabura is a Moldovan journalist, fixer and photographer.

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Case study: Global technology company

1. The Client

A global technology company operating across EMEA, with a regional HQ in Istanbul. The company manages 20+ markets, handling everything from brand campaigns to strategic partnerships.

Role we worked with: The EMEA Head of Marketing (supported by two regional managers).

2. The Challenge

Despite strong products and a respected global brand, the regional team was struggling with:

  • Misaligned strategy across markets → campaigns executed with inconsistent narratives.
  • Slowed growth → lead generation plateaued despite increasing spend.
  • Internal friction → marketing, sales, and product teams disagreed on KPIs and priorities.

Traditional fixes (more meetings, more reporting) only created more noise.

3. The Sprint

We ran a 10-day Remote Reinvention Sprint with the regional HQ team.

  • Day 1–3: Intake → Reviewed decks, campaign data, and plans.
  • Day 4: Sprint Session (90 mins) → Breakthroughs:
    • Sales and marketing had different definitions of “qualified lead.”
    • 40% of spend was going into low-potential markets.
    • The team assumed the problem was lack of budget, but it was actually lack of alignment.
  • Day 5–10: Synthesis → Insights distilled into a Clarity Brief + Insight Canvas.
4. The Breakthrough

The Sprint uncovered that the issue wasn’t budget, but fragmentation.
Three sharp insights unlocked a way forward:

  1. Unified KPIs bridging marketing + sales.
  2. Market prioritisation → shifting budget to 5 high-potential markets.
  3. Simplified narrative → one EMEA core story, locally adaptable.
By just realigning resources and focus, the client could unlock an estimated £250,000 in efficiency gains within the next 12 months — far exceeding the Sprint’s value guarantee. The path to higher returns was already inside the business, hidden by misalignment.
5. From Sprint to Action (4 Pillars Applied)

With clarity secured, Reinvantage didn’t suggest “more projects.”

Instead, we used the Sprint findings to create laser-focused next steps — drawing only from the areas that would deliver the most impact:

  • Readiness → Alignment workshops for sales + marketing teams. New playbooks clarified “qualified lead” definitions and reduced internal disputes.
  • Foresight → A market-opportunity scan identified which 5 countries would deliver the highest ROI, removing the guesswork from allocation.
  • Growth → Guided the reallocation of €2M budget and designed a phased rollout strategy that protected risk while maximising return.
  • Positioning → Built a messaging framework balancing global consistency with local nuance, ensuring campaigns spoke with one clear voice.

Because the Sprint had stripped away noise, these actions weren’t generic consulting ideas — they were directly tied to the breakthroughs.

6. The Results
  • +28% increase in qualified leads across the region.
  • 30% faster campaign rollout due to streamlined approvals.
  • Budget efficiency gains → €2M redirected from low-return to high-potential markets.
  • Internal cohesion → marketing + sales now use a single shared dashboard.
The client came in believing they needed more budget.
The Sprint revealed that what they really needed was clarity and alignment.

With that clarity, the four pillars became not theory, but practical tools to deliver measurable impact.

The Sprint guaranteed at least £20,000 in value — but in this case, it helped unlock more than 10x that within six months.

Case study: Regional VC fund & accelerator

1. The Client

A regional venture capital fund and accelerator focused on early-stage tech start-ups in the Baltics and Central Europe.

The fund had raised a new round and was under pressure to deliver stronger returns while also building its reputation as the go-to platform for founders.

Role we worked with: Managing Partner, supported by the Head of Portfolio Development.

2. The Challenge

Despite a promising portfolio, results were uneven.

Key issues:

  • Scattered portfolio support → no consistent playbook for start-ups, every partner did things differently.
  • Weak differentiation → founders and co-investors saw the fund as “one of many” in the region.
  • Stretched team → too many small bets, not enough clarity on which companies to double down on.

The leadership team knew something was off, but disagreed on whether the issue was pipeline quality, market conditions, or internal capacity.

3. The Sprint

We ran a 10-day Remote Reinvention Sprint with the partners and portfolio team.

  • Day 1–3: Intake → Reviewed pitch decks, pipeline funnel data, and start-up performance reports.
  • Day 4: Sprint Session (90 mins) → Breakthroughs:
    • No shared definition of a “high-potential founder.”
    • Support resources were spread too thin across the portfolio.
    • The fund’s positioning was more reactive than proactive — it didn’t own a distinctive narrative in the market.
  • Day 5–10: Synthesis → Insights consolidated into a Clarity Brief + Insight Canvas.
4. The Breakthrough

The Sprint revealed that the challenge wasn’t pipeline quality — it was lack of focus and positioning.

Three core insights provided the turning point:

  1. Portfolio Prioritisation Framework → defined clear criteria for where to double down.
  2. Founder Success Playbook → standardised support model for portfolio companies.
  3. Differentiated Narrative → repositioned the fund as “the accelerator of reinvention-ready founders.”
These shifts alone gave the fund a path to add an estimated £2M+ in portfolio value over the following 18 months, by concentrating capital and resources where they could move the needle most.
5. From Sprint to Action (4 Pillars Applied)

With clarity from the Sprint, Reinvantage created a tailored support plan:

  • Readiness → Coached partners on using the new prioritisation framework and trained the team on deploying the Founder Success Playbook.
  • Foresight → Ran scenario analysis on regional tech trends, helping the fund anticipate where capital would flow next.
  • Growth → Guided resource reallocation across the portfolio and supported new co-investor pitches for top-performing start-ups.
  • Positioning → Crafted a sharper brand story for the fund, positioning it as the reinvention partner for globally minded founders.
6. The Results
  • 10 portfolio companies onboarded to the new Playbook → greater consistency of support.
  • Raised follow-on capital for 3 top start-ups with the new prioritisation framework.
  • +26% increase in inbound deal flow from founders citing the fund’s new positioning.
  • Stronger internal cohesion → partners aligned on where to focus resources.
The client thought the problem was pipeline quality.
The Sprint showed it was actually lack of clarity and focus inside the firm.

By applying the four pillars, Reinvantage helped turn scattered effort into concentrated value creation.

The Sprint guaranteed at least £20,000 in value; here it set the stage for multi-million-pound upside in portfolio growth.

Case study: International impact Organisation

1. The Client

A large international impact organisation focused on entrepreneurship and economic empowerment.
The organisation runs multi-country programmes across Eastern Europe and Central Asia, often in partnership with global donors and corporate sponsors.

Role we worked with: Senior Programme Director, responsible for regional coordination.

2. The Challenge

The organisation had launched a flagship regional initiative supporting women entrepreneurs, but the programme was underperforming.

Key issues:

  • Fragmented delivery → each country office interpreted the programme differently.
  • Donor frustration → reporting lacked consistency and clear impact metrics.
  • Lost momentum → staff energy was spent on administration rather than scaling success stories.

Traditional programme reviews had produced long reports, but no real alignment or action.

3. The Sprint

We ran a 10-day Remote Reinvention Sprint with the regional leadership team and representatives from two country offices.

  • Day 1–3: Intake → Reviewed donor reports, programme KPIs, and field feedback.
  • Day 4: Sprint Session (90 mins) → Breakthroughs:
    • Donors cared about quantifiable outcomes, but reporting focused on stories.
    • Staff were duplicating efforts across countries, wasting time and resources.
    • The initiative lacked a clear theory of change — everyone described its purpose differently.
  • Day 5–10: Synthesis → Insights distilled into a Clarity Brief + Insight Canvas.
4. The Breakthrough

The Sprint revealed that the issue wasn’t donor pressure or programme design — it was a lack of shared framework and alignment.

Three critical insights reshaped the path forward:

  1. One Unified Theory of Change → agreed narrative for why the programme exists.
  2. Core Impact Metrics → clear, comparable KPIs across all countries.
  3. Smart Resource Sharing → digital hub to stop duplication and accelerate knowledge flow.
By eliminating duplicated reporting and clarifying what success looks like, the client saw they could save the equivalent of £100,000 in staff time annually — while also unlocking stronger donor confidence and follow-on funding opportunities.
5. From Sprint to Action (4 Pillars Applied)

Armed with Sprint clarity, Reinvantage proposed a laser-focused support plan:

  • Readiness → Trained programme leads on using the new metrics and integrated them into existing workflows.
  • Foresight → Analysed donor trends and expectations, aligning the initiative with the next funding cycle.
  • Growth → Developed a funding case based on the new unified theory of change, securing higher renewal chances.
  • Positioning → Crafted a regional success narrative and storytelling toolkit, helping them showcase results consistently across markets.
6. The Results
  • 30% less time spent on reporting → freed capacity for programme delivery.
  • Donor satisfaction improved → positive feedback on the clarity of impact evidence.
  • Secured new funding commitment → one major donor increased their contribution by 20%.
  • Stronger internal morale → staff felt they were working with clarity, not chaos.
The client thought it needed better donor management.
The Sprint revealed it needed a shared foundation across its teams.

By anchoring on the four pillars, Reinvantage turned alignment into efficiency gains and fresh funding opportunities.

The Sprint guaranteed at least £20,000 in value; here it unlocked both six-figure savings and future-proofed funding.

Case study: National digital development agency

1. The Client

A national digital development agency tasked with driving the government’s digital transformation agenda, including e-services, citizen portals, and smart city pilots.

Role we worked with: Director of Digital Transformation, supported by IT and service delivery leads from three ministries.

2. The Challenge

The agency had strong political backing but faced hurdles in implementation.

Key issues:

  • Siloed projects → each ministry developed digital tools independently, leading to duplication.
  • Citizen frustration → services were digital in name, but still required multiple logins and offline steps.
  • Funding pressure → international partners demanded clearer impact in the short term.

The agency wanted to accelerate momentum but struggled to get alignment across ministries.

3. The Sprint

We ran a 14-day Immersive Reinvention Sprint with the agency’s leadership and digital focal points from three ministries.

  • Day 1–3: Intake → Reviewed strategy docs, donor reports, and citizen feedback data.
  • Day 4: Immersive Sprint Session (half-day) → Breakthroughs:
    • Each ministry had different definitions of “digital service.”
    • 20% of budget was going into overlapping pilot projects.
    • Citizens’ top frustrations were known — but not prioritised.
  • Day 5–14: Synthesis → Insights consolidated into a Clarity Brief + Insight Canvas.
4. The Breakthrough

The Sprint revealed that the biggest blocker wasn’t lack of funding, but lack of shared priorities.

Three practical insights stood out:

  1. One Definition of Digital Service → agreed across ministries.
  2. Quick-Win Prioritisation → focus on top 3 citizen pain points (ID renewal, business registration, healthcare booking).
  3. Shared Resource Map → pool budgets to eliminate duplication.
These changes alone allowed the agency to unlock £75,000 in immediate savings and deliver 2–3 visible improvements in the next quarter — meeting donor expectations and building citizen trust.
5. From Sprint to Action (4 Pillars Applied)

Based on the Sprint clarity, Reinvantage proposed a modest, targeted package of support:

  • Readiness → Facilitated inter-ministerial workshops to embed the “one digital service” definition.
  • Foresight → Analysed citizen feedback trends to shape the quick-win roadmap.
  • Growth → Supported the reallocation of funds to joint projects, reducing overlap.
  • Positioning → Crafted a communication plan highlighting early digital wins to donors and citizens.
6. The Results
  • 2 pilot services integrated into the central portal (ID renewal + healthcare booking).
  • Budget savings of £75,000 from eliminating overlapping projects.
  • Citizen satisfaction up modestly → call centre complaints on digital services dropped by 12%.
  • Donor confidence improved → short-term impact report received positive feedback.
The client thought it needed more funding and bigger projects.
The Sprint revealed it first needed clarity and alignment.

By applying the four pillars to a targeted scope, Reinvantage helped deliver visible results within a single quarter — proving progress to citizens and donors and laying the groundwork for deeper transformation.