Marti Technologies shares climbed sharply on Wednesday. The stock gained 6.9% after the company shared a positive update.
Marti said its ride hailing business performed better than expected by the end of 2025. Both rider and driver numbers crossed the company’s targets.
As of December 31, 2025, Marti had 3.38 million riders on its platform. This was higher than its goal of 3.30 million. The company also reported 450,000 registered drivers, matching and slightly beating its target.
Growth picked up quickly in the second half of the year. From August to December 2025, the number of riders jumped 34%. Driver registrations also rose strongly, up 26% during the same period.
After seeing this momentum, Marti raised its goals again. The company now expects to reach 3.80 million riders by March 31, 2026. It is also aiming for 485,000 registered drivers by that date.
Marti highlighted its strong presence in Istanbul. The city alone has 316,000 registered drivers on the platform. This is far more than the roughly 20,000 taxis operating in Istanbul. The large driver base allows Marti to offer wider coverage and faster service.
The company has also expanded well beyond Istanbul. Marti now operates in 20 markets across Türkiye. These areas represent about 80% of the country’s total economic output.
Usage outside Istanbul is rising quickly. Riders outside the city now make up 31% of total users, up from 16% a year ago. The share of drivers outside Istanbul also grew, increasing from 21% to 30%.
Marti pointed to the size of the market as a key opportunity. Based on estimates from McKinsey, Türkiye’s taxi market was worth $9 to $12 billion in 2021. Under a more disruptive growth path, the ride hailing market could expand to $15 to $20 billion by 2030.
Founded in 2018, Marti has grown into a broad mobility platform. Along with ride hailing, it offers delivery services. It also operates rental e mopeds, e bikes, and e scooters across multiple cities.
