Marti

Market position

The company describes itself as Türkiye's leading mobility app, offering ride-hailing, delivery and shared electric two-wheelers through a single platform. As of the August 2026 snapshot its market capitalization was approximately $180-184 million, with six analysts covering the stock and a mean consensus of Buy at an average target price of $4.78.

Marti bundles multiple transportation modes - car, motorcycle and taxi hailing, same-hour delivery, and shared e-mopeds, e-bikes and e-scooters - within one application supported by in-house software and IoT infrastructure, rather than a single service. Its fleet is company-owned and operated, and it applies AI-based fleet optimization technology that it also sells to other operators.

Technology

Marti's services run on proprietary software systems and IoT infrastructure, including AI-driven rider-driver matching. Vehicles are unlocked via QR code scanning in the mobile app and billed per minute. The company also operates an AI-powered SaaS platform providing dynamic fleet optimization algorithms for two-wheeled electric vehicle rental operators, an area reinforced by its acquisition of the assets of Boston-based AI company Zoba.

Go-to-market

Marti reaches consumers directly through its mobile app, which serves as a single entry point for ride-hailing, delivery and shared electric vehicle rentals, and grows by expanding city coverage, most recently into 10 new Turkish cities in August 2026. It has run public campaigns and driver-community events, including a festival marking 100,000 ride-hailing drivers and a petition drive to the Istanbul Metropolitan Municipality supporting a shared-ride regulation. A SaaS offering targets third-party two-wheeled electric vehicle fleet operators.

Urban riders in Turkish metropolitan areas seeking short-distance and on-demand transportation, drivers of cars, motorcycles and taxis who accept ride requests through the platform, delivery customers, and third-party two-wheeled electric vehicle rental operators that license its fleet-optimization SaaS.

Geography

Operations are in Türkiye, with the operating headquarters in Istanbul (Büyükdere Cd. No. 237, 34485 Istanbul) and the registered parent entity in George Town, Grand Cayman, Cayman Islands. Cities served include Istanbul, Ankara, İzmir, Antalya, Kocaeli, Muğla and Mersin; in August 2026 the company launched ride-hailing in 10 additional Turkish cities.

History

Martı started service in 2019 in Istanbul and expanded to Ankara in February 2020. It raised $25 million in a 2020 round and reached a $100 million valuation in a 2021 Series B. Shares were offered publicly on July 11, 2023 on the New York Stock Exchange (NYSE American) under the ticker MRT, with trading and an opening-gong ceremony on July 13, 2023. In 2023 the company delivered 376,000 petitions to the Istanbul Metropolitan Municipality seeking a shared-ride regulation. In February 2024 it acquired the assets of Zoba, a Boston-based artificial intelligence company focused on two-wheeled electric vehicle fleet optimization. In 2026 it announced an autonomous vehicle partnership with Tensor, a share repurchase program update, raised full-year guidance, and launched ride-hailing in 10 additional Turkish cities.

Risks & controversies

Financial data as of the August 2026 snapshot showed a trailing twelve-month net loss of $42.1M, a profit margin of -69.78%, negative levered free cash flow of $5.24M and total cash of $12.5M. The shares were down approximately 78% over five years, and on August 24, 2026 Cantor Fitzgerald maintained a Neutral rating while lowering its price target from $2.40 to $2.20. The ride-hailing business depends in part on regulatory acceptance in Türkiye; the company campaigned publicly for a shared-ride regulation in Istanbul.