Marti Technologies Inc. (MRT) is Türkiye’s leading mobility super app, revolutionizing urban transportation with innovative, sustainable, and customer-centric solutions. Founded in 2018, Marti offers a comprehensive range of mobility services, including ride-hailing and rentals of e-scooters, e-bikes, and e-mopeds, all powered by proprietary software systems and IoT infrastructure.
As a pioneer in the mobility sector, Marti is committed to reshaping Türkiye’s transportation landscape by integrating smart mobility solutions with a strong focus on environmental sustainability. The company has achieved remarkable milestones, including a dominant 59% market share in the two-wheeled electric vehicle rental segment and rapid growth in its ride-hailing platform, connecting millions of riders and drivers across the country.
Marti’s dedication to sustainability is exemplified by its “Move Forward. Together” strategy, which emphasizes cleaner cities, safer rides, and smarter mobility. With a goal of achieving net-zero emissions by 2030 and implementing industry-leading recycling initiatives, Marti is setting new standards for responsible and innovative urban transportation. By combining advanced technology, strategic collaborations, and a strong sustainability ethos, Marti Technologies continues to lead the way in transforming Türkiye’s urban mobility ecosystem.
Operational Success and Market Leadership
Marti achieved significant operational milestones in 2024, underscoring its leadership in Türkiye’s mobility market. The company’s ride-hailing service exceeded year-end targets, reaching 1.61 million riders and 255,000 registered drivers by December 2024, reflecting a 15% and 14% increase since September 2024. Marti holds a dominant 59% market share in the two-wheeled electric vehicle rental segment, highlighting its ability to meet diverse urban mobility needs efficiently.
The company’s financial trajectory is equally impressive. Marti reported $8.4 million in revenue for the first half of 2024 and projects fiscal year 2025 revenue of approximately $34 million, a dramatic increase from the anticipated $16.6 million in 2024. This growth reflects Marti’s focus on scaling operations and achieving positive free cash flow by 2025, signaling a transition to a profitable and sustainable business model.
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Sustainability Achievements and Commitments
Marti’s 2023 Sustainability Report highlights its commitment to environmental and social responsibility through its “Move Forward. Together” strategy, which focuses on three pillars: Smarter Mobility, Cleaner Cities, and Safer Rides. In 2023, Marti avoided approximately 941 tons of CO2 emissions, equivalent to the absorption capacity of 43,000 mature trees. The company’s e-mopeds, e-bikes, and e-scooters achieve CO2 reductions of 46%, 37%, and 21%, respectively, compared to other urban transportation methods in Türkiye.
Marti has pledged to achieve net-zero Scope 1 and Scope 2 emissions by 2030, with a goal of implementing net-zero inbound logistics operations under Scope 3 by the same year. Through its partnerships with specialized recycling firms, Marti reached a 100% recycling rate for 60.5 tons of materials, including mixed metals, lithium-ion batteries, and plastics, achieving a 0% landfill rate two years ahead of schedule. These sustainability initiatives demonstrate Marti’s ability to integrate environmental considerations into its core operations effectively.
Technological Advancements and Strategic Collaborations
Marti continues to innovate through strategic investments and partnerships. The company’s acquisition of Boston-based Zoba, specializing in AI-driven fleet optimization, enhances its operational efficiency, reducing costs and improving service delivery. Collaboration with the İstanbul Metropolitan Municipality to establish parking spots for electric vehicles underscores Marti’s commitment to fostering sustainable urban ecosystems.
Marti’s proprietary software systems and IoT infrastructure are critical to its success, allowing the seamless integration of ride-hailing and vehicle rentals into a single platform. The planned launch of the Marti Safety Academy further reinforces its focus on customer safety, providing educational resources to improve rider behavior and reduce incidents.
Financial Resilience and Sustainability Integration
Marti’s ability to balance growth with operational efficiency is evident in its financial performance. The company has optimized its cost structure, enabling it to allocate resources strategically to expand its market presence and develop new services. As of 2023, Marti has demonstrated a robust capacity to invest in R&D initiatives and sustainability programs while maintaining a strong market position in Türkiye’s urban mobility landscape.
Market Potential and Long-Term Growth Prospects
The mobility market in Türkiye presents a substantial total addressable market estimated at $9–$12 billion, with Marti positioned to capture a significant share. The company’s driver subscription model offers scalable revenue potential, with initial estimates suggesting an $800 million opportunity. As Marti continues to expand its services and refine its offerings, its growth trajectory aligns with the increasing global emphasis on sustainable and shared mobility solutions.
Conclusion: A Leading Force in Mobility Innovation
Marti Technologies combines operational excellence, sustainability, and cutting-edge technology to redefine urban mobility in Türkiye. With a clear path to profitability, market leadership, and a steadfast commitment to environmental and social responsibility, Marti is poised to become a transformative player in the global mobility market. For investors seeking exposure to a high-growth, sustainability-driven company, Marti offers a compelling opportunity.
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