The Real Deal New York

Cadre’s CTO is out: sources

Jean Sini quietly left the Kushner-backed startup
By Konrad Putzier | April 25, 2018 12:40PM

Ryan Williams, Jean Sini and the Puck Building, where Cadre is headquartered (Credit: Michael McWeeney and Wikimedia Commons)

UPDATED, April 26, 6:07 p.m.: Jean Sini, the chief technology officer of the Kushner brothers-backed real estate investment platform Cadre, has quietly left the company.

A source close to Cadre said he was let go a few months ago. A source close to Sini said he quit, citing tensions over a lack of focus on technology development at the finance startup.

A Cadre spokesperson said in statement: “We can confirm that we chose to part ways with Jean Sini in February. Any assertion that this was due to a lack of focus on technology development is patently false. Our pace of technology innovation has accelerated over the last few months in parallel with the ongoing expansion of our technology and engineering teams.”

Sini joined Cadre in October 2016, according to his LinkedIn profile. At the time of his departure, he oversaw an engineering team of around 20 people (it has since grown to 35, according to the source close to Cadre).

Cadre’s head of engineering Leonid Movsesyan took over Sini’s role. The company declined to comment, and Sini couldn’t be reached.

A native of France, Sini spent eight years as director of software engineering at Oracle, according to his LinkedIn profile. He later worked at Intuit and Symbol Technologies, among other firms. Prior to joining Cadre, he spent more than two years as CTO of Fountain Software, which he co-founded.

Cadre, founded in 2014 by Jared and Joshua Kushner and Blackstone Group alum Ryan Williams, is an online platform that allows accredited investors to invest in commercial real estate. In June the company raised $65 million in venture funding at a $800 million valuation.

In January, the company announced that Goldman Sachs’ wealth management arm agreed to invest $250 million of its clients’ money into Cadre’s real estate offerings. Meanwhile, Cadre is planning the launch of a real estate debt business.