Marti Technologies wins equity deal of the year for NYSE listing

Marti Technologies, a leading provider of multi-modal urban mobility solutions in Türkiye, has been honored with the International Equity Capital Markets Deal of the Year award for its successful listing on the NYSE American. This accolade was presented at the prestigious Bonds, Loans, & ESG Capital Markets CEE, CIS & Türkiye Awards, highlighting the company’s pioneering direct listing as a significant achievement within the region’s capital markets.

The award recognizes Marti Technologies’ notable entry onto the NYSE American in July 2023, marking a milestone as the first Turkish company to achieve such a feat. The company’s super app platform, which commands a substantial share of Türkiye’s urban mobility sector,has been instrumental in transforming transit services through its comprehensive range of rental e-vehicles and advanced software systems supported by IoT infrastructure.

Since its listing, Marti has made remarkable progress, quickly surpassing its targets. By Monday, November 13th, the company had attracted over 380,000 customers and more than 90,000 drivers. Istanbul alone contributed over 70,000 drivers to this total, outpacing traditional taxi services in the city. These achievements have prompted Marti to set new ambitious goals for itself: reaching 450,000 customers and securing 100,000 drivers by the end of the year.

While Marti celebrates its recent accolade and growth milestones, it also acknowledges potential challenges ahead. The company’s press release includes forward-looking statements that outline various risks associated with its public listing status. These include possible impacts on operations and legal proceedings risk. Additionally, sustaining its NYSE American listing will require navigating industry competition and regulatory shifts in emerging markets such as Türkiye.

As Marti Technologies continues to expand and solidify its position in the urban mobility market, it remains focused on leveraging its super app platform to offer innovative transit solutions while carefully managing the inherent risks of operating within a dynamic and competitive landscape.

Source: investing

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