Aly Madhavji to join Roundtable as CFO ahead of RYVYL merger

SAN DIEGO - Web3 investor Aly Madhavji will join Roundtable as Chief Financial Officer as the company prepares to merge with RYVYL Inc. (NASDAQ:RVYL), according to a press release issued Thursday. RYVYL, currently trading at $0.30 per share with a market capitalization of just $9.73 million, has seen its stock price decline significantly over the past year.

Madhavji, who has managed over 200 blockchain infrastructure technology investments, will guide Roundtable through its merger process and NASDAQ listing. Current RYVYL CFO George Oliva will transition to Chief Accounting Officer following the merger's completion. According to InvestingPro data, RYVYL reported revenue of $48.9 million in the last twelve months with a negative EBITDA of $5.72 million, highlighting the financial challenges the company faces. InvestingPro analysis suggests RYVYL is currently undervalued based on its Fair Value assessment.

The appointment brings Madhavji's financial credentials as a licensed Chartered Accountant with degrees from Tsinghua University, INSEAD, and the University of Toronto to the executive team. He currently serves on the Governing Council at the University of Toronto and will mark his second NASDAQ board position, having previously served with Soluna Holdings.

Roundtable CEO James Heckman cited Madhavji's "intensity and thoroughness" as key factors in the appointment, noting his ability to communicate the company's platform vision to both traditional and blockchain-focused investors.

The merged company will be renamed RTB Digital, Inc., doing business as Roundtable, with Heckman serving as CEO and Walton Comer as Chairman. Six directors will be appointed by Roundtable, with one RYVYL independent director retained. InvestingPro data reveals RYVYL's current ratio stands at 0.67, indicating short-term obligations exceed liquid assets—a financial challenge the new leadership team will need to address. Investors can access the comprehensive Pro Research Report covering RYVYL and 1,400+ other US equities through InvestingPro, offering expert analysis and actionable intelligence.

Roundtable describes itself as a Web3 digital media SaaS platform providing white-label publishing and monetization services for professional media brands. RYVYL operates a digital payment processing business focused on underserved markets.

The merger remains subject to shareholder approval and regulatory review. The announcement did not specify a timeline for the transaction's completion.

The information in this article is based on a press release statement from the companies.

In other recent news, Ryvyl Inc. has successfully avoided delisting from NASDAQ after receiving a capital infusion from Roundtable, which helped the company meet shareholder equity requirements. This investment strengthens Ryvyl's financial position as it prepares for a merger with RTB Digital, a Web3 digital media SaaS technology company. The merger, expected to close by the end of 2025, aims to integrate Roundtable's digital media platform with Ryvyl's payment infrastructure, potentially boosting revenue and distribution growth for Roundtable's clients. Additionally, Ryvyl announced plans to conduct a 15:1 reverse stock split to comply with NASDAQ's minimum share price requirement.

In leadership changes, Ryvyl appointed Tod Browndorf and Forest Ralph to its board of directors. Forest Ralph, a partner at SeatonHill Partners, LP, brings extensive experience in financial leadership across various industries. Meanwhile, Ryvyl has extended the contract of its CFO, George Oliva. Despite these developments, Ryvyl notified NASDAQ of its noncompliance with board and audit committee composition rules, stating plans to appoint an additional independent director to achieve compliance.

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