Marti Technologies, Inc.
Business
Marti Technologies, Inc. is Türkiye’s leading urban mobility platform that provides tech-enabled transportation services via a single mobility super app. It offers ride-hailing (car, motorcycle, and taxi) and a company-owned, operated shared two-wheeled electric vehicle fleet including e-scooters, e-bikes, and e-mopeds, supported by proprietary software, AI-driven matching, dynamic pricing, and IoT-enabled fleet management. Its operations are organized across ride-hailing and two-wheeled electric vehicle business lines, vertically integrated vehicle design, in-house apps, fleet operations, and analytics and safety initiatives. Marti operates primarily in major Turkish metropolitan areas—İstanbul, Ankara, İzmir, and Antalya—delivering services through its mobile application and local municipal permit frameworks.
Summary from filing dated 2025-04-29
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2022 2022-12-31 |
|---|---|---|
| General and administrative expenses | 3 | |
| Total operating expenses | 3 | |
| Interest income | 2 | |
| Total other income | 2 | |
| Net loss | −837,116 |
Consolidated Balance Sheet
| Concept | Trend | FY 2022 2022-12-31 | FY 2021 2021-12-31 | FY 2021 2021-02-28 |
|---|---|---|---|---|
| Cash | 251,865 | 610,926 | — | |
| Prepaid expenses | 71,491 | 147,327 | — | |
| Total Current Assets | 323,356 | 758,253 | — | |
| Prepaid expenses | — | 69,656 | — | |
| Investments held in Trust Account | 149 | 147 | — | |
| Total Assets | 149 | 147 | — | |
| Accounts payable and accrued expenses | 3 | 706,224 | — | |
| Total Current Liabilities | 3 | 706,224 | — | |
| Deferred underwriting commission | 5 | 5 | — | |
| Total Liabilities | 8 | 6 | — | |
| COMMITMENTS AND CONTINGENCIES | — | — | — | |
| Class A ordinary shares subject to possible redemption; 14,375,000 shares (at $10.15 and $10.00 per share) | 146 | 144 | — | |
| Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding | — | — | — | |
| Accumulated deficit | −5 | −2 | — | |
| Total Stockholders' Deficit | −5 | −2 | 0 | |
| Total Liabilities, Class A ordinary shares subject to possible redemption and Stockholders' Deficit | 149 | 147 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2022 2022-12-31 |
|---|---|---|
| Net loss | −837,116 | |
| Prepaid expenses | 145,492 | |
| Accrued expenses | 2 | |
| Net cash used in operating activities | −359,061 | |
| Net change in cash | −359,061 | |
| Remeasurement of Class A ordinary shares to redemption value | 2 |