Expert Photo, a Moscow-based provider of photo related services in Russia, has received a growth financing of undisclosed amount.
Investors include The CapMan Russia fund and Belgian investment company Gimv NV. Following the transaction, they will own 19% of the company’s shares.
The company intends to use the funds to expand its operations in the Russian market.
Established in 1995, Expert Photo provides comprehensive online and offline photo printing services and photo products including photo books, calendars, canvases and souvenirs for retail and corporate customers in Russia. The company had net sales of approximately €10m in 2010 and employs 250 people.