Marti, Turkey’s Leading Mobility App, to Go Public via a Merger with Galata Acquisition Corp.
Summary
Founded in 2018, Marti is backed by a diverse investor base with deep knowledge of the mobility sector in emerging markets and operates a fleet of over 46,000 e-mopeds, e-bikes, and e-scooters, serviced by proprietary software systems and IoT infrastructure. “We are privileged to have the support of top-tier investors and access to the U.S. capital markets following the closing of this proposed transaction, which will leave Marti well-capitalized to seek to become Turkey’s first mobility superapp by expanding into other attractive adjacencies, leveraging our growing and loyal customer base. Our next-generation, environmentally friendly, and complementary services for the daily commute offer unique opportunities to scale, further reinforcing our competitive advantages and attractive margin levels. “With our successful history, best-in-class unit economics, and vertically integrated business model driving costs lower and revenues higher, we are confident we can provide shareholders with a compelling investment alternative that supports today’s need for mobility solutions. Daniel Freifeld, Galata’s President, added, “When we were evaluating the emerging market mobility space, we focused on three key areas: execution, unit economics, and scale.