Cashblack and Afrofiliate: Revolutionising Support for Black-Owned Businesses Through Innovative Technology – Keep The Faith ® The UK’s Black and multi-ethnic Christian magazine

As Black History Month 2024 approaches, Cashblack emerges as a groundbreaking platform set to transform the cashback landscape for Black-owned businesses. Founded by three brothers – Matthew, Jonathan, and Nicholas Addai – in the summer of 2020, Cashblack is on a mission to decrease the racial wealth gap by financially incentivising shoppers to support Black-owned businesses. Cashblack’s journey began during the tumultuous summer of 2020. Matthew Addai, a former senior trader at a hedge fund, along with his brothers Jonathan and Nicholas, recognised the need for a systematic approach to support Black-owned businesses. “During that summer’s global anti-racism movement, it became clear that there was a direct correlation between socioeconomic issues faced by Black people throughout the world and the lack of support for Black-owned businesses,” says Matthew Addai, CEO and co-founder of Cashblack. “We felt that a way to combat this would be to incentivise patronage in Black-owned businesses by having the Black-owned businesses invest back into the patrons. ‘How about a cashback website?’ we thought. ‘A cashback website for Black-owned businesses? Cashblack!’ – and what started as a play on words is now our tech startup.” Their bootstrapped venture has grown from an idea into a powerful tool...