Cashblack and Afrofiliate: Revolutionising Support for Black-Owned Businesses Through Innovative Technology
London-based tech start-up 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 during the Black Lives Matter movement global activity which shifted the world’s attention to Black communities and disparities faced by them across the world. 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 for economic empowerment, overcoming numerous challenges along the way. They now boast partnerships with organisations such as Boots, Etsy, and Microsoft, have completed multiple accelerator programs and have won numerous awards.
Cashblack offers a robust network designed to connect consumers with over 700 Black-owned brands integrating a user-friendly website and mobile app. It also has partnerships with food delivery giants Deliveroo, Just Eat, and Uber Eats, enabling members to order from local Black-owned food vendors.
As Cashblack continues to grow the brothers have also launched Afrofiliate which enables Black-owned brands to reach new audiences through influencer marketing and affiliate programs, turning their customers into brand ambassadors who share in the profits of their success, thus amplifying the voices of Black entrepreneurs while fostering an ecosystem of support.
Together, Cashblack and Afrofiliate work to democratise consumerism by empowering both businesses and consumers to make intentional, impactful choices that support Black entrepreneurship.
With Black History Month on the horizon, Cashblack and Afrofiliate’s missions are more relevant than ever. Cashblack’s US soft launch on Juneteenth earlier this year set the stage for broader impact, while Afrofiliate's affiliate platform offers another channel for Black-owned businesses to grow and prosper.
"We're doing what we can for the people, and we’re hoping that the people can keep that same energy with us on our mission from that summer in 2020," Matthew Addai reflects.
For more information and interview requests email ronke@ariatupr.com
Notes to editor
Media assets: Cashblack Media Assets
About Cashblack and Afrofiliate
Cashblack is a technology-driven platform dedicated to bridging the racial wealth gap by connecting consumers with Black-owned businesses. Afrofiliate, its sister company, is an affiliate platform that connects Black-owned brands with content creators and media outlets to expand their reach and convert loyal customers into brand ambassadors. Together, these platforms are democratising consumerism and creating a more inclusive and equitable marketplace. Visit Cashblack and Afrofiliate for more information.
How Cashblack Works
Cashblack rewards members with cashback when they shop online with Black-owned businesses. Users can:
Register on the platform
Browse products and services from Black-owned retailers
Make purchases and earn cashback
Withdraw the cashback or donate it to affiliated goodwill causes, with Cashblack matching donations 100%
About Matthew
Matthew Addai is a visionary social entrepreneur, serving as the co-founder and CEO of Cashblack and Afrofiliate. Cashblack is an innovative platform that offers cashback to consumers supporting Black-owned businesses online, while Afrofiliate connects these brands with affiliates to foster growth.
An MSc graduate with a background as a senior trader for a hedge fund, Matthew, alongside his two younger brothers, launched these startups during a sabbatical, inspired by the 2020 global anti-racism movement. Today, these ventures boast thousands of members, partner with hundreds of retailers, and collaborate with corporate allies.
Their mission? To bridge the racial wealth divide and address socioeconomic disparities by encouraging support for minority-owned enterprises through financial incentives.