APSG

What APSG does

APSG, headquartered in Jeddah, Saudi Arabia, is an integrated physical-services provider founded in 2014 that operates across five interlocking business lines: Total Cash Management (cash-in-transit, ATM/CDM management, and the first private-sector SAMA-approved Managed Cash Center for banknote processing), Security Guarding, Facilities Management, Security Systems (CCTV, access control), and Electronic Channels (ATM, CDM, coin machines). The company is backed by strategic OEM partnerships with Gunnebo, Giesecke+Devrient, Alhamrani Universal, and Captured Tech, which supply the underlying hardware, banknote-processing technology, and software platforms (e.g., KeyConductor, Cash Control) that anchor its cash-management and security offerings.

The company serves large enterprise and public-sector clients in Saudi Arabia, with named banking clients including National Commercial Bank (NCB), Al Rajhi Bank, Samba Bank, the Islamic Development Bank, and the National Bank of Kuwait, plus government and education-sector accounts (SAMA, universities, and government entities). APSG operates with a 100% Saudization workforce across security services and has built a national footprint across the Northern, Qassim, Hail, South, and Eastern regions of the Kingdom, with 4,730+ employees as of the most recent reporting.

The business model is a long-term contracted services model — multi-year cash-management, guarding, and facilities-management contracts with banks and government entities — supplemented by technology resale and managed services. Revenue is generated through recurring service fees tied to branch/ATM coverage, cash volumes processed, and headcount deployed, with margins layered from higher-value regulated activities (MBCC) and technology-enabled services. Recent 2023 wins (Al Jomaih, Jeddah Metro, Al-Balad Festival, City of Roses) signal an explicit strategy to diversify beyond core banking into industrial, infrastructure, events, and real-estate verticals.

Name

APSG

Legal name

APSG

Website

https://apsgworld.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

251–500 employees

Short description

APSG is a Jeddah-headquartered, integrated physical-services provider in Saudi Arabia offering cash management, security guarding, facilities management, and security systems to large banks, government entities, and enterprises, with 4,730+ employees and national regional coverage.

Ownership category

akta.pro rank

Headquarters

HQ city

Jiddah

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Integrated Security Solutions: Revenue generated from providing comprehensive security services including manned guarding, electronic security systems (CCTV, access control), and security consulting to enterprise clients.
2. Cash Management Services: Cash-in-transit services, ATM management, bank cash center operations (MBCC), and cash processing including sorting, counting, and authentication services for financial institutions.
3. Facilities Management: Comprehensive facility management including cleaning, hospitality, maintenance, and operations services provided to banks, universities, hospitals, and other organizations.
4. Electronic Channels: ATM, CDM, and coins machine provision including original spare parts, warranty, and after-warranty maintenance packages.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

APSG is an integrated services provider that contracts with enterprise clients to manage and operate their cash handling, security guarding, facilities management, security systems, and electronic banking channel (ATM/CDM/Coin Machine) functions. Its service bundle covers cash-in-transit, multi-bank cash center operations, ATM management, manned guarding, building and facilities maintenance, integrated electronic security solutions, and dedicated technology-oriented solutions through its APSG Technology division. Operations are delivered 24/7/365 with a workforce exceeding 4,730 employees across Saudi Arabia.

Product overview

APSG is an integrated services company offering a unified portfolio of security, facilities management, and cash handling solutions. The core offerings include Total Cash Management (encompassing Cash in Transit, Multi Bank Cash Center Management, and ATM services), Security Guarding, Facilities Management, Security Systems (CCTV, Access Control, Intercom, Photo ID), Electronic Channels (ATM/CDM/Coin Machines), and APSG Technology. The company operates 24/7 and serves diverse business entities across Saudi Arabia and the Middle East. Key technology products integrated into services include the Gunnebo Cash Control web-based monitoring system and the Captured Tech Key Conductor electronic key management solution.

Differentiator

Problem solved

Functional benefit

Brands

• APSG Security Guarding Services (MGS): Security guarding and manned guarding services division providing protection to diversified business entities
• APSG Cash in Transit Services
• APSG Multi Bank Cash Centre (MBCC)
• APSG Cash Control

Products and services

• Total Cash Management Comprehensive outsourced cash-handling service for enterprise clients covering cash-in-transit, cash-center operations, ATM management, and related back-office cash processes, delivered 24/7/365 to banks, monetary authorities, and large enterprises in Saudi Arabia.
• Security Guarding Management Manned security guarding service delivered by 100% Saudization-compliant personnel for banks, government, educational institutions, healthcare providers, and large events in Saudi Arabia.
• Facilities Management Outsourced facilities management covering building maintenance, housekeeping, and support services for enterprise client premises in Saudi Arabia.
• Security Systems Integrated electronic security solutions comprising design, supply, installation, and operation of CCTV surveillance, Electronic Access Control, Intercom, and Photo ID Systems for enterprise clients.
• APSG Technology Technology-oriented solutions division within APSG providing clients with integrated technology services supporting cash management and security operations, delivered as a contracted offering rather than as standalone software products.
• Electronic Channels (CDM, ATM, Coin Machines) Provision, deployment, and managed services for electronic banking channel hardware including Cash Deposit Machines (CDM), ATMs, and Coin Machines for banks and large enterprises in Saudi Arabia.
• Multi Bank Cash Center Management (MBCC) End-to-end outsourced management and operations of a Multi Bank Cash Center facility on behalf of SAMA and participating banks, making APSG the first private-sector company in the Middle East and Africa to operate a SAMA-approved MBCC.

Quantifiable outcome

• First MBCC (Multi Bank Cash Center) operation in Middle East and Africa
• +4 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Giesecke & Devrient (G&D)coreTechnology or Integration · 1 April 2017G&D serves as APSG's manufacturing partner for banknote processing systems. Provides broad range of high-quality banknote processing systems including BPS C4 and BPS M5 for processing, sorting, and assessing authenticity and condition of banknotes. Systems support up to 33 banknotes per second processing speed. NCB KSA was the first customer to utilize this agreement. Partnership since April 2017.
• Alhamrani UniversalcoreTechnology or Integration · 1 December 2016Alhamrani Universal provides combination of best-in-class maintenance and software, server-based solutions and professional services organization. Partnership offers comprehensive solutions in the self-service market, specifically for ATM and self-service equipment maintenance and support. Selected partner since December 2016.
• Captured TechcoreTechnology or Integration · 1 July 2016Captured Tech provides KeyConductor electronic key cabinet system with barcode or RFID technology for APSG Cash in Transit operations. KeyCop is utilized as single-use security seal for high security environments. System provides fully automatic key issue and collection with real-time audit trails. Selected partner since July 2016.
• GunnebocoreTechnology or Integration · 1 March 2016Gunnebo provides comprehensive security solutions including fully automated cash management from branches to central banks and headquarters, optimizing productivity and efficiency. Partnership focused on CIT and bank cash center security solutions, safe cash retail deposit systems, and cash control management software. Gunnebo is a selected partner since March 2016.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• ISS A/S: Global facility services provider with cleaning, security, and workplace management. Comparable to APSG's Facility Management and integrated services for banks, universities, and hospitals.
• G4S / Allied Universal: Global security and integrated facility services giant with extensive Middle East operations. Overlaps with APSG's manned guarding, electronic security, and integrated services offering, though at much larger scale.
• Securitas AB: World's largest security services group with strong Middle East presence. Directly comparable to APSG Security Guarding Management and integrated security solutions.
• Sodexo: Global facilities management and food services provider. Overlaps with APSG's hospitality, cleaning, and integrated FM services for enterprises and institutions.

Direct peers

• The Brink's Company: Global market leader in cash-in-transit, ATM management, and digital retail solutions — directly comparable to APSG's Total Cash Management and MBCC business, including bank cash center outsourcing.
• Loomis AB: Sweden-based cash handling, CIT, and ATM services provider with a strong Middle East presence. Closely comparable to APSG's CIT, ATM, and MBCC operations across banking customers.
• Prosegur Cash: Spanish-listed CIT, cash automation, and value-added services provider. Comparable business model to APSG's cash management and value logistics for banks and retailers.

Regional players

• EFS Facilities Services: UAE-headquartered integrated facilities management company operating across the Middle East. Closest regional peer to APSG's facilities management and integrated services offering, focused on GCC enterprise and government clients.
• Emdad (Emdad for Operations and Maintenance): Saudi-UAE integrated facility management and support services provider. Comparable to APSG in providing multi-vertical FM, cleaning, and maintenance to large institutional clients in the GCC.

Others

• Alhamrani Universal: Saudi-based ATM and self-service equipment provider that is both an APSG technology partner and an adjacent peer in ATM maintenance, cash deposit machines, and self-service banking support.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/apsgworld
• Facebookfacebook.com/apsgworld

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about APSG