Adyen, the Amsterdam-listed global payments platform, has agreed to acquire Orb, an enterprise billing infrastructure provider, for $335m in a deal that aims to bring billing and payments under a single unified system for enterprise merchants.
The transaction will be structured as a reverse triangular merger, with Orb becoming an indirect wholly owned subsidiary of Adyen upon completion. Adyen will fund the acquisition entirely from existing cash reserves. The co-founders of Orb have also agreed to reinvest a portion of their proceeds into newly issued Adyen ordinary shares, signalling long-term alignment with the combined business. The deal remains conditional on customary closing requirements.
Adyen intends to run Orb under an incubator model during the initial phase of the acquisition to preserve product momentum and operational continuity. The company will continue to support multi-PSP environments during this period. The longer-term strategic aim is full convergence, delivering a single infrastructure layer spanning both billing and payments for enterprise merchants.
The rationale for the deal centres on the growing structural complexity of monetisation among digital businesses, particularly as artificial intelligence accelerates the shift towards usage-based pricing models. Adyen has identified billing as a strategic entry point into a new generation of high-growth digital companies, with both existing and prospective customers already requesting this capability. By linking billing signals to Adyen's Dynamic Identification layer, the combined system is intended to improve data models across Adyen's product suite, while real-time payment data and risk scores will be used to optimise billing execution, reduce fraud, and improve transaction success rates.
Founded in 2021 and headquartered in San Francisco, Orb provides an infrastructure engine designed to track real-time usage data and translate complex pricing contracts for large-scale enterprises. The company raised a $25m Series B in 2024, bringing its total funding to $44m. Its client base includes Vercel, Glean, Replit, and Supabase. Unlike conventional billing systems that aggregate usage data at an early stage, Orb retains the full event stream at scale, separating ingestion from invoicing to give enterprise platforms greater flexibility over pricing structures, backtesting, and monetisation strategies.
Adyen co-CEO Ingo Uytdehaage said, 'Our customers increasingly need infrastructure that can handle complex, high-volume usage models, particularly as AI reshapes how software is priced and consumed. The structural complexity of modern billing has become the kind of infrastructure problem Adyen is built to take on. Helping customers optimise beyond the transaction itself has been an important part of our long-term direction, and recent moves have expanded our role further into the enterprise monetisation stack. Combining Orb's billing product with Adyen's payments platform closes the loop between what merchants charge and how those charges perform, enabling merchants to automate smarter revenue decisions in real time.'
Orb CEO Alvaro Morales said, 'Standalone billing systems are fundamentally limited because they operate blind to transaction execution. We built our architecture to process complex consumption logic at the event level, giving merchants total flexibility over their pricing frameworks. By joining forces with Adyen, we can connect this ingestion layer directly to real-time financial health signals, closing the loop between billing logic and payment success.'