Prosegur Cash

What Prosegur Cash does

Prosegur Cash S.A. is a Madrid-headquartered, publicly listed (Madrid Stock Exchange; OTC: PGUCY) provider of cash management and value logistics services, founded in 1975 and spun off from the Prosegur Group via 2016 IPO. The company operates across 34–36 countries in Latin America, Europe, and Asia-Pacific, employing approximately 60,000 people dedicated to Prosegur Cash (within the broader 180,000-employee Prosegur Group) and running 600+ operational bases supported by the industry's largest armored vehicle fleet. Core revenue comes from cash-in-transit and ATM end-to-end management for banks and large retailers, vault services, and international transport of valuable cargo (minerals, precious metals), supplemented by foreign exchange (Change Group, 100+ locations), the CORBAN financial services network, and emerging digital transformation products including Cash Today cash digitization, Wallet prepaid accounts, and Cashback.

Prosegur Cash has systematically extended its security infrastructure into digital asset services through the Prosegur Crypto subsidiary, which operates four institutional-grade crypto bunkers (Andorra, Argentina, Brazil, Spain) for cold-storage custody of cryptocurrencies and tokenized assets. In September 2025 the company launched Prosegur Digital Gold, a tokenized gold platform (1,000 tokens per physical gold bar, audited) that expanded to all 26 EU countries plus the UK in April 2026; this platform now coexists with custody alliances such as the Myandbank/Andbank partnership in Andorra and the Spain Ministry of Interior contract for seized crypto asset custody. April 2026 brought a strategic alliance with Minos Global (digital asset brokerage in which Prosegur holds a stake) and Nuek/Grupo Indra (payment infrastructure) targeting digital payments, stablecoins, and asset tokenization.

Revenue model combines managed services (cash logistics, ATM management), recurring/subscription-style Transformation Products (over 35% of 2025 sales of approximately €700M, growing 4–6% annually), professional services (international transport with Customs Agent-OAS, AESA, and IATA accreditations), and transaction-fee businesses (foreign exchange and CORBAN). Reported 2025 revenue was €1.987 billion (down 4.9% YoY due to FX translation, with 5.3% underlying organic growth), EBITA €238 million at a 12% margin, and net profit €94 million. Prosegur Cash is controlled by Prosegur Gestión de Activos S.L.U., maintains a leverage ratio of 2.3x–2.4x EBITDA on €836M net debt, and in 2025 issued a €300M private bond placement while repaying €600M of maturing debt.

Name

Prosegur Cash

Legal name

Prosegur Cash S.A.

Website

https://prosegurcash.com

Company type

Public

Founded year

1975

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Prosegur Cash is a Madrid-listed global cash management and value logistics provider operating in 34+ countries, serving banks, retailers, and government clients with cash-in-transit, ATM management, international valuables transport, and emerging digital-asset custody and tokenized gold services.

Ownership category

akta.pro rank

Product category

Cash Management and Value Logistics

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Cash & Coin Processing / Cash Centers (FSAMAOAF)

akta.pro secondary industries

Corporate Cash Management & Treasury Services (FSAMAOAA), Liquidity & Cash Concentration (Sweeping, pooling, notional pooling) (FSABAIAC), Treasury & Risk Management Solutions (FX/MM, hedging, TMS integration) (FSABAIAE), Tokenized Treasury, Money Market & Cash Management Products (FSADAEAB)

Keywords

• Cash-in-transit services
• ATM management
• Value logistics
• Cash processing
• Secure cash transport

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Cash Logistics and ATM Management: Core business of cash-in-transit services, ATM replenishment, and comprehensive cash management. Services include cash transportation, vault management, and ATM maintenance.
2. Transformation Products: Digital and innovative products including Cash Today (cash digitization), Forex services, and tokenized gold. These products represent over 35% of total sales and are growing at 4-6% annually.
3. International Transport: Transport of valuable and vulnerable merchandise internationally with accreditations including Customs Agent-OAS, AESA Accreditation Agent, and IATA Agent.
4. Foreign Exchange Services: Currency exchange services with over 100 locations worldwide and 30 years of experience, serving tourists with foreign currency exchange, money transfers, and tax refunds.
5. CORBAN Financial Services: Financial operations through allied stores and own agencies including cash-in, cash-out, balance inquiries, card delivery, loan disbursement, service payments, remittances, and product sales.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Prosegur Cash provides end-to-end cash management and value logistics services for financial institutions, retailers, and corporate clients. Core services include cash-in-transit transport, ATM replenishment and maintenance, vault management, international transport of valuable cargo, and cash digitization. The company has expanded into digital transformation offerings including institutional cryptocurrency custody (Prosegur Crypto), tokenized gold investment (Prosegur Digital Gold), and foreign exchange through its Change Group network.

Product overview

Prosegur Cash operates as an integrated cash management company offering a diversified portfolio of services spanning traditional cash logistics and innovative digital solutions. The core offerings include armored transport and cash-in-transit services (Logística de Valores), end-to-end ATM management, and international valuable cargo transport. The company has expanded into digital transformation products including Prosegur Crypto (digital asset custody), Prosegur Digital Gold (tokenized gold platform), Cash Today (cash digitization), Wallet (digital prepaid accounts), Cashback, and CORBAN (financial services network). The foreign exchange business operates under the Change Group brand. Products are positioned across both physical security infrastructure (high-security facilities, armored fleet) and digital platforms (blockchain-based tokenization, cryptocurrency custody).

Differentiator

Problem solved

Functional benefit

Brands

• Prosegur Crypto: Institutional digital asset custody service offering cryptocurrency custody, tokenized gold (Digital Gold), and blockchain-based security solutions for digital assets.
• Cash Today
• CORBAN
• Wallet
• Cashback

Products and services

• Cash Logistics (Logística de Valores)
• End-to-End ATM Management (Gestión ATMs)

Quantifiable outcome

• 8.4% reduction in emissions vs 2023 reference year (target was -1.7%)
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Minos GlobalcoreTechnology or Integration · 20 April 2026Prosegur Crypto and Minos Global, a Spanish company specializing in custody, sale and management of digital assets, signed an agreement to explore joint development of solutions in digital payments, stablecoins and asset tokenization. Minos Global provides regulated brokerage services and Prosegur Cash holds a stake in the company.
• Nuek (Indra Group)coreStrategic or Co-development Partner · 20 April 2026Prosegur Crypto partnered with Nuek, the specialized payment infrastructure unit of Grupo Indra (Spanish IT and defense company), to explore joint development of digital payment solutions, stablecoins and asset tokenization. Nuek provides technological know-how in advanced solutions for the financial sector.
• Myandbank/AndbankcoreChannel Partner/ Reseller/ Distributor · 15 December 2025Launched cryptocurrency custody and trading service in Andorra through Myandbank's digital banking platform. Myandbank offers customers Bitcoin and Ethereum investment facilities. Prosegur Crypto provides institutional-grade custody services while Myandbank provides distribution channel. Pricing: 0.50% for buy/sell services and 0.50% annual custody fee.
• Indian Banks' AssociationminorOthersSIS Prosegur (part of the Prosegur Group in India) has approached the Indian Banks' Association along with other cash logistics companies seeking higher ATM replenishment charges due to rising operational costs including fuel prices, minimum wages, and compliance costs.

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Loomis: Swedish-headquartered direct competitor in cash logistics, ATM services and international value transport. Closest like-for-like CIT peer with comparable European and international geographic mix.
• Brink's: Global leader in cash-in-transit, ATM management and vault services with similar B2B bank and retailer client base. Directly comparable in core CIT/ATM operations, though with a larger US footprint.
• GardaWorld (Cash Services): Canadian security and cash services group operating physical cash-in-transit and ATM solutions across North America, Europe, and select LatAm markets. Overlaps with Prosegur Cash in CIT and international valuables transport.
• Travelex: Global foreign exchange and currency-exchange network serving tourists and travelers. Directly comparable to Prosegur's Change Group / Prosegur Change bureaux de change business.

Regional players

• Euronet Worldwide: Global payments and ATM network operator with overlapping ATM management and cash services capabilities. Comparable technology stack to Prosegur's end-to-end ATM offering, though more focused on transaction processing.
• CMS (Cash Management Solutions): UK-based ATM and cash management services provider overlapping with Prosegur Cash's UK and European ATM operations and CIT services.

Emerging players

• Coinbase Custody: Institutional digital asset custodian competing with Prosegur Crypto in regulated custody; lacks Prosegur's physical bunker infrastructure but has a deeper crypto-native client base.
• BitGo: Digital asset trust company and qualified custodian offering cold-storage services. Comparable to Prosegur Crypto for institutional and sovereign-grade custody mandates.
• Anchorage Digital: US federally chartered digital asset bank offering institutional custody. Competes with Prosegur Crypto for regulated, institutional-grade digital asset mandates, particularly with sovereign and family-office clients.

Broad incumbents

• G4S Cash Solutions (now Allied Universal): Global security conglomerate with a sizable cash solutions division offering CIT, ATM and vault services. Broader portfolio than Prosegur Cash but directly overlaps in core cash management offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/prosegur
• LinkedInlinkedin.com/company/prosegur

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Prosegur Cash