Behind the Waterfall: Tom Sebastian

In this edition of Behind the Waterfall, Tom Sebastian, Application Creation Architect reflects on his journey to becoming a core part of the team at qashqade, and how being involved from the platform’s earliest days has shaped his perspective. He shares what drew him to the technical challenges of private markets, the importance of close collaboration, and why building reliable, auditable systems for a wide range of users remains deeply motivating.

We also explore Tom’s view on how qashqade’s technology and engineering practices have evolved over time, the trends in private markets infrastructure that excite him most, and what makes qashqade a place where technical talent can grow while making a real, lasting impact.

Tom, you’ve been with qashqade for several years now; what first brought you here, and what’s kept you engaged over time?

I first worked with qashqade while I was at my previous company, where qashqade was a client. I was directly involved in the development work, building some of the first screens and core logic, and later focusing more on the engine logic and other core modules. The algorithmic challenges of the platform strongly matched my background, and I particularly enjoyed working closely with Gregor, from whom I learned a great deal and continue to learn from today.

Joining qashqade full-time felt like a natural progression, as it allowed me to keep developing a system I had been involved in from an early stage and to continue collaborating with the same team. What’s kept me engaged over the years is the ongoing technical challenge and the opportunity to work on complex problems with talented, supportive colleagues.

From a technical standpoint, how have you seen the platform and engineering approach evolve since you joined?

Since I joined, both the platform and the way we build and deliver it have improved a lot. When I started, everything was quite rudimentary: we had a single server, manual processes for updates, minimal automated checks, and simple user access. Over time, we’ve modernized the system by moving to a secure cloud platform, automating backups and deployment, and creating a more structured workflow that allows the team to release updates safely and efficiently.

On the platform side, initially it was very basic, with simple interfaces and minimal design. Over time, we’ve gone through several rounds of improvements, introducing modern libraries, polished dashboards, interactive charts, and better reporting, making the platform much more visually appealing and intuitive for users. At the same time the calculation engine grew more flexible, powerful, and accurate to handle close to any business case in the private equity market.

What makes building technology for private markets particularly interesting or challenging compared to other domains?

Private markets are fascinating because they’re complex but highly structured, with long-term investments and custom calculations. The challenge is that the platform must be exact, auditable, and understandable for a range of users -- from grunts setting up logic to CFO or Fund Accountant to HR to auditors etc. -- while still being intuitive and usable. I love this mix of algorithmic challenge, practical impact, and serving diverse audiences.

Are there any technical decisions or architectural shifts at qashqade that you’re especially proud of?

I’m particularly proud of two things: modernizing our infrastructure with SSO, cloud migration, Kubernetes for security and scalability, and evolving the calculation engine from a complex waterfall tool into a flexible system that can handle cap table share-based waterfalls, and GP carry event calculations and more.

What trends are you seeing in financial technology or private markets infrastructure that excite you?

One trend that excites me is the automation and standardization of complex private-market workflows. Historically, these processes lived in spreadsheets and manual models that were hard to understand and error-prone. Modern platforms are turning them into auditable, real-time systems that scale as funds grow. This shift not only reduces risk and operational overhead, but also gives investors and managers clearer, faster insight into performance and outcomes.

If someone technical were considering joining qashqade, what would you say makes it a great place to grow?

qashqade is a great place to grow because you work with highly knowledgeable and genuinely supportive teammates on challenging problems in a high-impact environment with quick decision cycles. The decision chain is short, so good ideas turn into real impact quickly. On top of that, we use a modern tech stack and place real value on high-quality work and meaningful achievements.

What value do you personally get from being part of qashqade?

I really value the team and working closely with leaders and being aligned with strategy. I love turning product specs into elegant, algorithm-driven solutions, supporting the team along the way, and seeing it all come together. Working with smart, collaborative people on hands-on, high-impact challenges is exactly what keeps me motivated every day.