The venture fund PSB invested $152,000 for a period of three years in the Blagoveshchensk-based start-up Kollektsioner.

Founded in 2012, the company produces albums for coin collections and has distribution in 26 regions around Russia.
The funds will be used to expand the range of products and move into foreign markets.

"Each of the founders of the company at the time of its creation has been successfully developing its business," Alena Sokoba, the head of PSB, said. "The project Kollektsioner is a vivid example of how you can turn your hobby into a profitable and promising project. With the help of venture fund entrepreneurs can dramatically increase your business."

The company said it needs the financing to meet growing demand for its products.

"In order to promptly respond to customer needs, we have decided to expand the range of 50 percent, and increase the sales geography," Kollektsioner CEO Ekaterina Kravchenko said. "To do this, the company needed additional funds, in connection with what we have decided to apply to the venture fund PSB."