Spain: EIB supports Prosegur’s innovation and digitalisation strategy with €57.5 million

• The EU bank will finance Prosegur’s investments in innovation, digital transformation and sustainability up to 2023.
• The financing will strengthen digital transformation and innovation programmes with developments in areas such as artificial intelligence, the internet of things and process automation.
• Digitalisation and innovation will be key to accelerating the company’s growth. By 2023, Prosegur expects new products from its innovation initiatives to account for more than 35% of revenue.

The European Investment Bank (EIB) will support Prosegur, a leading Spanish company in the global security industry, with €57.5 million to finance its digital transformation. The EIB backing will enable the company to develop the GenzAI platform to create new services based on various technologies such as artificial intelligence, process automation, the internet of things and blockchain, with applications in the areas of corporate and home security, cybersecurity, cash management and process outsourcing.

Prosegur’s digital transformation and innovation plan seeks to achieve continuous process improvement, streamline operations and provide the necessary flexibility to operate in the current environment. To this end, the company is deploying technical infrastructure to support the operating model and implement its innovation strategy for developing solutions and services that will be key to its future.

The company’s investment plan includes sustainable solutions to improve the energy efficiency of its facilities in line with its sustainability master plan. The agreement will also promote collaboration with startups, which Prosegur will invite to participate in its innovation programme, fostering entrepreneurship initiatives and supporting ground-breaking companies.

EIB Vice-President Ricardo Mourinho Félix, said: “At the EIB we are very proud to support the innovative work of Prosegur, a leader in the global security industry. We need to invest in Europe’s core capabilities. Investment in innovative technologies and digitalisation are priority areas for the EIB.”

Javier Cabrerizo, Managing Director of Prosegur, highlighted “the importance of EIB support for Prosegur and our transformation and innovation projects. We want to remain at the forefront of our industry through the development of these initiatives. Our goal is to provide our customers with the most innovative services to ultimately make the world a safer place.”

Background information:

The European Investment Bank operates in around 160 countries and is the world’s largest multilateral lender for climate action projects.

In 2020, it supported small businesses, startups and corporates, as well as the public sector, to drive digitalisation and innovation in the European Union and beyond, with our financing helping to promote new digital business models.

Prosegur is a world leader in the private security industry. Across its various business lines — Prosegur Security, Prosegur Cash, Prosegur Alarms, Prosegur AVOS and Cipher (cybersecurity) — it provides homes and businesses with trusted security based on the most advanced solutions on the market. With a global presence, Prosegur currently has a team of more than 150 000 employees. In 2020 it reported sales of €3.463 billion, and is listed on the Spanish stock exchanges under the ticker symbol PSG.

The company’s social action initiatives are run through the Prosegur Foundation, which focuses on four different areas: education, the inclusion of people with intellectual disabilities in the labour market, corporate volunteering and cultural development. In addition, Prosegur has incorporated the 17 United Nations Sustainable Development Goals into its strategy and is actively working towards the ten that are most relevant to its activities and where it can generate a positive impact.

For more information, please visit www.prosegur.com.