Marti Ride-Hailing Platform Surpasses 2025 Growth Targets, Reinforcing Nationwide Expansion Across Türkiye
Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT), Türkiye’s leading mobility super app, has announced a major milestone in the growth of its ride-hailing business. As of December 31, 2025, Marti’s platform reached 3.38 million riders and 450,000 registered drivers, surpassing the Company’s previously disclosed year-end targets of 3.30 million riders and 450,000 drivers.
The achievement reflects accelerating adoption of Marti’s ride-hailing service across Türkiye and highlights the Company’s ability to scale both sides of its marketplace efficiently. Strong growth in rider demand, combined with a rapidly expanding driver network, positions Marti as a central player in Türkiye’s evolving urban mobility ecosystem.
Rapid Marketplace Growth Signals Strong Demand
Marti’s ride-hailing business experienced particularly strong momentum in the latter half of 2025. Between August 12, 2025, and December 31, 2025, the number of riders on the platform grew by 34%, while the number of registered drivers increased by 26% over the same period.
This balanced growth across both riders and drivers underscores the strength of Marti’s marketplace dynamics. A growing rider base signals rising consumer trust and usage, while the expanding driver network ensures service availability, reduced wait times, and competitive pricing. Together, these trends demonstrate widespread demand for Marti’s ride-hailing offering across Türkiye.
Marti’s service is designed to deliver safe, reliable, and affordable transportation for riders, while simultaneously providing flexible income opportunities for drivers from a wide range of economic backgrounds. The platform’s ability to scale quickly on both sides of the market has been central to its growth strategy.
Setting Ambitious Targets for Early 2026
Buoyed by its strong year-end performance, Marti has established new near-term growth objectives. The Company is targeting 3.80 million riders and 485,000 registered drivers by March 31, 2026.
These targets reflect Marti’s confidence in continued rider adoption, ongoing driver onboarding, and the sustained expansion of its ride-hailing footprint. The Company believes that rising urban mobility needs, coupled with increasing consumer openness to app-based transportation, will continue to support growth in the months ahead.
Istanbul: A Scale Advantage Unlike Any Other
Istanbul remains Marti’s largest and most important market. Of the Company’s 450,000 registered drivers, approximately 316,000 are based in Istanbul, Türkiye’s largest city and economic hub. By comparison, Istanbul is currently served by an estimated 20,000 licensed taxis.
This disparity gives Marti a significant scale advantage. With roughly 16 times more registered drivers than taxis operating in the city, Marti is able to offer broad geographic coverage, improved availability, and shorter wait times for riders across Istanbul’s diverse neighborhoods.
Driver safety and service quality remain central to Marti’s operating model. All drivers undergo formal background checks prior to being accepted onto the platform, a process designed to enhance rider trust and safety. Reflecting this focus, Marti’s ride-hailing drivers maintain an average rider rating of 4.8 out of 5 stars, indicating consistently high satisfaction levels.
Expanding Beyond Istanbul: A Nationwide Strategy Takes Shape
While Istanbul continues to anchor Marti’s operations, growth outside the city has accelerated significantly. Over the past year, the Company has executed a deliberate strategy to expand ride-hailing services across Türkiye’s major metropolitan and regional markets.
During the summer of 2025, Marti launched ride-hailing operations in six major metropolitan areas: Bursa, Konya, Adana, Kocaeli, Mersin, and Kayseri. This expansion marked a significant step toward establishing a truly national presence.
Later in the year, Marti completed its largest single expansion to date, adding services in Aydın, Denizli, Eskişehir, Gaziantep, Manisa, Muğla, Sakarya, Samsun, Tekirdağ, and Yalova. These additions further strengthened the Company’s footprint across western, central, and southern Türkiye.
As a result of these expansion waves, Marti’s ride-hailing operations now span 20 markets nationwide, collectively covering approximately 80% of Türkiye’s gross domestic product (GDP). This extensive reach positions Marti to capture demand not only in megacities but also in fast-growing regional centers.
Geographic Diversification Gains Momentum
Marti’s expansion strategy is already reshaping the geographic composition of its user base. Over the last twelve months, the share of riders located outside Istanbul increased from 16% to 31%, reflecting rising adoption in newly launched markets.
A similar trend is evident on the supply side. The proportion of registered drivers based outside Istanbul grew from 21% to 30% during the same period. This balanced geographic diversification reduces reliance on any single market and enhances the resilience of Marti’s overall business model.
The Company views this trend as a critical component of its long-term growth trajectory. While Istanbul remains a cornerstone, Marti believes that sustained expansion into additional cities will unlock new demand pools and strengthen its position as Türkiye’s leading ride-hailing platform.
Supporting Drivers Across the Income Spectrum
A core element of Marti’s mission is to create economic opportunity. The platform enables drivers from varied backgrounds to earn income on a flexible basis, whether as a primary occupation or as supplemental work.
By dramatically expanding the number of registered drivers—particularly in cities with limited taxi availability—Marti helps address unmet transportation needs while also broadening access to income-generating opportunities. This dual impact has contributed to strong driver onboarding rates and high platform engagement.
Market Opportunity: A Growing Ride-Hailing Landscape
The long-term opportunity for ride-hailing in Türkiye remains substantial. According to estimates by McKinsey & Company, the Turkish taxi market was valued between $9 billion and $12 billion as of 2021.
Under McKinsey’s “Disruptive Scenario 2030,” ride-hailing is expected to significantly expand the overall size of the market by offering more affordable, more convenient, and more accessible transportation options. In this scenario, the total addressable market for ride-hailing in Türkiye could reach $15 billion to $20 billion by 2030.
Marti believes it is well positioned to capture a meaningful share of this growth. Its early-mover advantage, nationwide expansion, and ability to scale supply and demand simultaneously provide a strong foundation for long-term value creation.
As Marti enters 2026, the Company remains focused on disciplined execution. Key priorities include expanding into additional markets, improving service reliability, enhancing driver and rider experiences, and leveraging data to optimize marketplace efficiency.
Surpassing its 2025 targets reinforces management’s confidence in Marti’s strategy and operational capabilities. With ambitious goals set for the first quarter of 2026 and a rapidly growing addressable market, Marti is positioning itself as a central force in shaping the future of mobility in Türkiye.
By combining scale, safety, accessibility, and nationwide reach, Marti continues to transform how millions of people move—while creating economic opportunities for hundreds of thousands of drivers across the country.
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