We present the photometric and spectroscopic evolution of supernova (SN) 2019cad during the first raisebox-0.5extextasciitilde100 d from explosion. Based on the light-curve morphology, we find that SN 2019cad resembles the double-peaked Type Ib/c SN 2005bf and the Type Ic PTF11mnb. Unlike those two objects, SN 2019cad also shows the initial peak in the redder bands. Inspection of the g-band light curve indicates the initial peak is reached in raisebox-0.5extextasciitilde8 d, while the r-band peak occurred raisebox-0.5extextasciitilde15 d post-explosion. A second and more prominent peak is reached in all bands at raisebox-0.5extextasciitilde45 d past explosion, followed by a fast decline from raisebox-0.5extextasciitilde60 d. During the first 30 d, the spectra of SN 2019cad show the typical features of a Type Ic SN, however, after 40 d, a blue continuum with prominent lines of Si II ensuremathlambda6355 and C II ensuremathlambda6580 is observed again. Comparing the bolometric light curve to hydrodynamical models, we find that SN 2019cad is consistent with a pre-SN mass of 11 M_ensuremathodot, and an explosion energy of 3.5 texttimes 10^51 erg. The light-curve morphology can be reproduced either by a double-peaked ^56Ni distribution with an external component of 0.041 M_ensuremathodot, and an internal component of 0.3 M_ensuremathodot or a double-peaked ^56Ni distribution plus magnetar model (P raisebox-0.5extextasciitilde 11 ms and B raisebox-0.5extextasciitilde 26 texttimes 10^14 G). If SN 2019cad were to suffer from significant host reddening (which cannot be ruled out), the ^56Ni model would require extreme values, while the magnetar model would still be feasible.