2.17
+4.83%
Close of 9 Nov 2026, in USD
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About Marti Technologies
From its filings with the US Securities and Exchange Commission
Marti Technologies is based in Grand Cayman and is incorporated in Cayman Islands. Its shares trade on NYSE under the ticker MRT. The SEC classifies its business as auto rental & leasing (no drivers). In the fiscal year to 31 December 2022, it reported a net loss of $837,116. At that date it held total assets of $149.1m and shareholders' equity of −$5.0m.
While we may pursue an initial business combination opportunity in any business, industry, sector or geographic region, we intend to focus on technology-enabled financial services businesses in emerging markets. Segments we might explore include, but are not limited to, insurance, reinsurance and insurance services, asset management, retail or investment banking, and merchant acquisition & payment processing.
On March 18, 2021, we issued an aggregate of 3,593,750 Class B ordinary shares of the Company, $0.0001 par value per share (“Founder Shares”), to our sponsor, Galata Acquisition Sponsor, LLC (the “Sponsor”), for a total subscription price of $25,000, or approximately $0.007 per share. On May 14, 2021, our Sponsor transferred an aggregate of 15,000 Founder Shares to an entity controlled by Andrew Stewart, one of our advisors. Prior to the initial investment in the Company of $25,000 by our Sponsor, the Company had no assets, tangible or intangible.
Simultaneously with the closing of the IPO, the Company consummated the sale of 6,500,000 warrants (together with the warrants below, the “Private Placement Warrants”) at a price of $1.00 per Private Placement Warrant in private placements to Sponsor.
Quoted from its 10-K, filed 31 Mar 2023. Read the filing on SEC.gov ↗
Company facts
- Sector
- Industrials
- Industry
- Ground Transportation
- Listed since
- 9 Jul 2021
- Employees
- 473
- Website
- ir.marti.tech ↗
- Head office
- C/O MAPLES CORPORATE SERVICES LIMITED, GRAND CAYMAN
- Incorporated in
- E9
- Classification
- Services-Auto Rental & Leasing (No Drivers)
- Filer status
- Non-accelerated filer<br>Emerging growth company
Leadership
Pay as last reported
- Mr. Oguz OektemChairman of the Board, Chief Executive Officer, since 2018
- Mr. Cankut DurgunPresident, Chief Operating Officer, Director
- Mr. Cenk OzekerChief Financial Officer
- Mr. Daniel FreifeldIndependent Director, since 2022
- Dr. Kerry HealeyIndependent Director
- Amb. Douglas LuteIndependent Director
- Mr. Alexander SpiroIndependent Director
- Mr. Agah UgurIndependent Director
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 0
- Environment
- 0
- Social
- 0
- Governance
- 0
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Marti Technologies Inc operates a fleet of e-mopeds in Turkey.
- The firm uses software systems for its e-bike services.
- IoT infrastructure supports the e-scooter operations effectively.
Weaknesses
- The company employs only 290 full-time staff members.
- Operations are limited to the Turkish market currently.
- The business description mentions 473 employees but details 290.
Opportunities
- Expanding the travel application to other countries is possible.
- Growing demand for sustainable urban transport offers growth.
- iOS and Android app stores provide wide user access.
Threats
- Competition in the ground transportation industry is intense.
- Regulatory changes in Turkey could impact operations.
- Economic downturns may reduce rider usage of services.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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