Marti sets targets for June 30, 2025 of 2.15 million riders and 310 thousand registered drivers

ISTANBUL: Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT), Türkiye’s leading mobility super app, announced today that as of March 25, 2025, Marti’s ride-hailing service has reached 1.91 million riders and 290 thousand registered drivers, exceeding the March 31, 2025 targets of 1.90 million riders and 290 thousand registered drivers.

Marti’s number of ride-hailing riders grew 18.6% from December 15, 2024 to March 25, 2025. The number of registered drivers grew 13.9% during the same time period. The fast growth in both the rider and driver sides of Marti’s ride-hailing marketplace demonstrates the strong need for the service across Türkiye. The service intends to provide readily available, safe, and affordable rides for riders, while providing economic opportunities for drivers across the income spectrum.

Encouraged by the growth in the rider and driver bases of its ride-hailing business, Marti has set targets for 2.15 million riders and 310 thousand registered drivers by June 30, 2025.

Of Marti’s 290 thousand registered drivers, 225 thousand are in Türkiye’s largest city, Istanbul. This is in contrast to 20 thousand taxis serving the city. With 11 times as many registered drivers as taxis serving the city of Istanbul, Marti is able to offer widespread availability across the city. Furthermore, Marti’s drivers undergo formal background checks before acceptance onto the service, thereby contributing to rider safety. The average rating of Marti’s ride-hailing drivers by riders is 4.8 out of 5 stars.

McKinsey & Company, a consultancy group, estimates the taxi market size in Türkiye at $9 billion to $12 billion as of 2021. Further, under the “Disruptive Scenario 2030”, ride-hailing is expected to increase the size of the taxi market by offering cheaper and more convenient rides. McKinsey & Company estimates the potential size of the Turkish ride-hailing market in 2030 at $15 billion to $20 billion(*).

(*) Expectations and targets are not necessarily indicative of future attainment.

About Marti:

Founded in 2018, Marti is Türkiye’s leading mobility app, offering multiple transportation services to its riders. Marti operates a ride-hailing service that matches riders with car, motorcycle, and taxi drivers, and operates a large fleet of rental e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are serviced by proprietary software systems and IoT infrastructure. For more information, visit www.marti.tech.

Cautionary Note Regarding Forward-Looking Statements

Certain statements made in this press release constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements related to the anticipated growth, including the number of riders and registered drivers of the ride-hailing business, the ride-hailing targets by June 30, 2025, and the expected future performance and market opportunities of Marti and the ride-hailing business. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including the risks discussed in the Company’s filings with the SEC, including the Company’s Annual Report on Form 20-F. Marti undertakes no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise, except as required by law.

Fonte: Business Wire