Adyen to Acquire Billing Platform Orb for $335 Million as Usage-Based Pricing Becomes Core Infrastructure
Adyen has agreed to acquire Orb, a San Francisco-based enterprise billing platform, for $335 million in cash. The Dutch payments group will fund the deal entirely from existing resources, and expects the transaction to close on 1 July 2026, subject to customary regulatory approvals.
Orb, founded in 2021, supplies the infrastructure that lets large companies meter and bill on the basis of actual usage rather than fixed subscriptions. Its engine ingests real-time usage data at scale and translates complex pricing contracts into invoices, storing the full event stream and decoupling ingestion from invoicing so that customers can rework pricing without re-engineering their billing. The business has raised $44 million to date, including a $25 million Series B in 2024, and counts Vercel, Glean, Replit and Supabase among its clients. Under the agreement, Orb's co-founders will reinvest a meaningful portion of their proceeds into newly issued Adyen shares.
This is Adyen's second acquisition in three months. In April the company agreed to buy Talon.One, a loyalty and incentives platform serving more than 300 merchants, with both deals now expected to close on the same 1 July date. For a group long known for building its own technology rather than buying it, two transactions in quick succession marks a notable shift in posture.
The strategic logic is the same in each case: fold more of the merchant's commercial stack into Adyen's payments infrastructure. With Orb, the aim is to unify billing and payments into a single experience, so that the system which prices a transaction and the system which collects on it are no longer separate. Co-CEO Ingo Uytdehaage framed the rationale around a broader market change, arguing that as artificial intelligence reshapes how software is priced and consumed, Adyen's customers increasingly need solutions for complex, high-volume usage models.
That argument reflects a wider repricing of software. As AI products charge by tokens consumed, compute time or other granular metrics, usage-based billing has moved from a niche concern to core enterprise infrastructure, and it has become a contested one. Only months earlier, in December 2025, Stripe acquired the usage-based billing platform Metronome for a reported $1 billion, explicitly to own the metering layer for AI companies such as OpenAI and Anthropic that ingest enormous volumes of usage events. Adyen's purchase of Orb places it on the same battleground, at roughly a third of the price.
Adyen expects Orb and Talon.One together to add around one percentage point to net revenue growth in 2026, while diluting margin by about one percentage point once one-time transaction costs are included. For a company that has historically prized organic, in-house growth, the message is clear: owning how enterprises are billed, not just how they are paid, is now worth buying.
By Pete Sadler
