Coverd and Albert Wang: The Infrastructure Behind a New Kind of Card (opens in new tab)

Coverd, founded by Albert Wang, is building a new kind of rewards card using infrastructure from Rain to deliver instant cashback on purchases. Instead of locking users into traditional redemption systems, Coverd lets rewards work immediately after transactions clear. Backed by a16z Speedrun and other investors, the company shows how modern card infrastructure is lowering barriers to fintech innovation.