diff --git a/server/polar/event/service.py b/server/polar/event/service.py
index 9bf9ee29f1..97edfbdf18 100644
--- a/server/polar/event/service.py
+++ b/server/polar/event/service.py
@@ -39,6 +39,8 @@
     CustomerMeter,
     Event,
     EventClosure,
+    Meter,
+    MeterEvent,
     Organization,
     User,
     UserOrganization,
@@ -59,6 +61,7 @@
     StatisticsPeriod,
 )
 from .sorting import EventNamesSortProperty, EventSortProperty
+from .system import SystemEvent
 
 log: Logger = structlog.get_logger()
 
@@ -731,6 +734,8 @@ async def ingested(
             if "_cost" in event.user_metadata:
                 organization_ids_for_revops.add(event.organization_id)
 
+        await self._create_meter_events(session, events)
+
         await self._activate_matching_customer_meters(
             session, repository, event_ids, customers
         )
@@ -742,6 +747,57 @@ async def ingested(
             organization_repository = OrganizationRepository.from_session(session)
             await organization_repository.enable_revops(organization_ids_for_revops)
 
+    async def _create_meter_events(
+        self, session: AsyncSession, events: Sequence[Event]
+    ) -> None:
+        if not events:
+            return
+
+        events_by_org: dict[uuid.UUID, list[Event]] = {}
+        for event in events:
+            events_by_org.setdefault(event.organization_id, []).append(event)
+
+        meter_repository = MeterRepository.from_session(session)
+        meter_event_rows: list[dict[str, Any]] = []
+
+        for org_id, org_events in events_by_org.items():
+            meters = await meter_repository.get_all(
+                meter_repository.get_base_statement().where(
+                    Meter.organization_id == org_id,
+                    Meter.archived_at.is_(None),
+                )
+            )
+
+            for event in org_events:
+                for meter in meters:
+                    if self._event_matches_meter(event, meter):
+                        meter_event_rows.append(
+                            {
+                                "meter_id": meter.id,
+                                "event_id": event.id,
+                                "customer_id": event.customer_id,
+                                "external_customer_id": event.external_customer_id,
+                                "organization_id": event.organization_id,
+                                "ingested_at": event.ingested_at,
+                                "timestamp": event.timestamp,
+                            }
+                        )
+
+        if meter_event_rows:
+            await session.execute(
+                insert(MeterEvent).values(meter_event_rows).on_conflict_do_nothing()
+            )
+
+    def _event_matches_meter(self, event: Event, meter: Meter) -> bool:
+        if (
+            event.source == EventSource.system
+            and event.name in (SystemEvent.meter_credited, SystemEvent.meter_reset)
+            and event.user_metadata.get("meter_id") == str(meter.id)
+        ):
+            return True
+
+        return meter.filter.matches(event) and meter.aggregation.matches(event)
+
     async def _activate_matching_customer_meters(
         self,
         session: AsyncSession,
diff --git a/server/polar/meter/aggregation.py b/server/polar/meter/aggregation.py
index cdc19033a3..4585a9220a 100644
--- a/server/polar/meter/aggregation.py
+++ b/server/polar/meter/aggregation.py
@@ -1,5 +1,7 @@
+from __future__ import annotations
+
 from enum import StrEnum
-from typing import Annotated, Any, Literal
+from typing import TYPE_CHECKING, Annotated, Any, Literal
 
 from pydantic import AfterValidator, BaseModel, Discriminator, TypeAdapter
 from sqlalchemy import (
@@ -13,6 +15,9 @@
 )
 from sqlalchemy.dialects.postgresql import JSONB
 
+if TYPE_CHECKING:
+    from polar.models import Event
+
 
 class AggregationFunction(StrEnum):
     cnt = "count"  # `count` is a reserved keyword, so we use `cnt` as key
@@ -54,6 +59,9 @@ def is_summable(self) -> bool:
         """
         return True
 
+    def matches(self, event: Event) -> bool:
+        return True
+
 
 def _strip_metadata_prefix(value: str) -> str:
     prefix = "metadata."
@@ -92,6 +100,12 @@ def is_summable(self) -> bool:
         """
         return self.func == AggregationFunction.sum
 
+    def matches(self, event: Event) -> bool:
+        if self.property in ("name", "source", "timestamp"):
+            return True
+        value = event.user_metadata.get(self.property)
+        return isinstance(value, int | float)
+
 
 class UniqueAggregation(BaseModel):
     func: Literal[AggregationFunction.unique] = AggregationFunction.unique
@@ -112,6 +126,9 @@ def is_summable(self) -> bool:
         """
         return False
 
+    def matches(self, event: Event) -> bool:
+        return True
+
 
 _Aggregation = CountAggregation | PropertyAggregation | UniqueAggregation
 Aggregation = Annotated[_Aggregation, Discriminator("func")]
diff --git a/server/polar/meter/filter.py b/server/polar/meter/filter.py
index b40ff05196..750506d78a 100644
--- a/server/polar/meter/filter.py
+++ b/server/polar/meter/filter.py
@@ -1,5 +1,7 @@
+from __future__ import annotations
+
 from enum import StrEnum
-from typing import Annotated, Any
+from typing import TYPE_CHECKING, Annotated, Any
 
 from annotated_types import Ge, Le, MaxLen
 from pydantic import AfterValidator, BaseModel, ConfigDict
@@ -17,6 +19,9 @@
 )
 from sqlalchemy.dialects.postgresql import JSONB
 
+if TYPE_CHECKING:
+    from polar.models import Event
+
 # PostgreSQL int4 range limits
 INT_MIN_VALUE = -2_147_483_648
 INT_MAX_VALUE = 2_147_483_647
@@ -125,6 +130,39 @@ def _get_number_value(self) -> int:
             return 1 if self.value else 0
         return self.value
 
+    def matches(self, event: Event) -> bool:
+        if self.property == "name":
+            actual_value: Any = event.name
+        elif self.property == "source":
+            actual_value = event.source
+        elif self.property == "timestamp":
+            actual_value = int(event.timestamp.timestamp())
+        else:
+            actual_value = event.user_metadata.get(self.property)
+            if actual_value is None:
+                return False
+
+        return self._compare(actual_value, self.value)
+
+    def _compare(self, actual: Any, expected: str | int | bool) -> bool:
+        if self.operator == FilterOperator.eq:
+            return actual == expected
+        elif self.operator == FilterOperator.ne:
+            return actual != expected
+        elif self.operator == FilterOperator.gt:
+            return actual > expected
+        elif self.operator == FilterOperator.gte:
+            return actual >= expected
+        elif self.operator == FilterOperator.lt:
+            return actual < expected
+        elif self.operator == FilterOperator.lte:
+            return actual <= expected
+        elif self.operator == FilterOperator.like:
+            return str(expected) in str(actual)
+        elif self.operator == FilterOperator.not_like:
+            return str(expected) not in str(actual)
+        return False
+
 
 class FilterConjunction(StrEnum):
     and_ = "and"
@@ -133,7 +171,7 @@ class FilterConjunction(StrEnum):
 
 class Filter(BaseModel):
     conjunction: FilterConjunction
-    clauses: list["FilterClause | Filter"]
+    clauses: list[FilterClause | Filter]
 
     model_config = ConfigDict(
         # IMPORTANT: this ensures FastAPI doesn't generate `-Input` for output schemas
@@ -147,6 +185,12 @@ def get_sql_clause(self, model: type[Any]) -> ColumnExpressionArgument[bool]:
         conjunction = and_ if self.conjunction == FilterConjunction.and_ else or_
         return conjunction(*sql_clauses or (true(),))
 
+    def matches(self, event: Event) -> bool:
+        results = [clause.matches(event) for clause in self.clauses]
+        if self.conjunction == FilterConjunction.and_:
+            return all(results) if results else True
+        return any(results) if results else True
+
 
 class FilterType(TypeDecorator[Any]):
     impl = JSONB
diff --git a/server/tests/event/test_service.py b/server/tests/event/test_service.py
index 0ef35ffade..a062820f53 100644
--- a/server/tests/event/test_service.py
+++ b/server/tests/event/test_service.py
@@ -7,6 +7,7 @@
 import pytest
 from pydantic import ValidationError
 from pytest_mock import MockerFixture
+from sqlalchemy import func, select
 
 from polar.auth.models import AuthSubject, is_user
 from polar.event.repository import EventRepository
@@ -30,6 +31,7 @@
     CustomerMeter,
     EventType,
     Meter,
+    MeterEvent,
     Organization,
     Product,
     User,
@@ -1404,6 +1406,66 @@ async def test_activates_matching_customer_meter_with_external_customer_id(
         await session.refresh(customer_meter)
         assert customer_meter.activated_at is not None
 
+    async def test_creates_meter_events_for_matching_events(
+        self,
+        save_fixture: SaveFixture,
+        session: AsyncSession,
+        organization: Organization,
+        customer: Customer,
+    ) -> None:
+        meter = Meter(
+            name="Test Meter",
+            organization=organization,
+            filter=Filter(
+                conjunction=FilterConjunction.and_,
+                clauses=[
+                    FilterClause(
+                        property="name", operator=FilterOperator.eq, value="api.request"
+                    )
+                ],
+            ),
+            aggregation=PropertyAggregation(
+                func=AggregationFunction.sum, property="tokens"
+            ),
+        )
+        await save_fixture(meter)
+
+        matching_event = await create_event(
+            save_fixture,
+            customer=customer,
+            organization=organization,
+            source=EventSource.user,
+            name="api.request",
+            metadata={"tokens": 100},
+        )
+        non_matching_event = await create_event(
+            save_fixture,
+            customer=customer,
+            organization=organization,
+            source=EventSource.user,
+            name="other.event",
+            metadata={"tokens": 50},
+        )
+
+        await event_service.ingested(
+            session, [matching_event.id, non_matching_event.id]
+        )
+
+        count_result = await session.execute(
+            select(func.count())
+            .select_from(MeterEvent)
+            .where(MeterEvent.meter_id == meter.id)
+        )
+        meter_events_count = count_result.scalar_one()
+        assert meter_events_count == 1
+
+        meter_event_result = await session.execute(
+            select(MeterEvent).where(MeterEvent.meter_id == meter.id)
+        )
+        meter_event = meter_event_result.scalar_one()
+        assert meter_event.event_id == matching_event.id
+        assert meter_event.customer_id == customer.id
+
 
 @pytest.mark.asyncio
 class TestSystemEvents:
diff --git a/server/tests/meter/test_aggregation.py b/server/tests/meter/test_aggregation.py
index 1c526dad7d..57b5df729b 100644
--- a/server/tests/meter/test_aggregation.py
+++ b/server/tests/meter/test_aggregation.py
@@ -9,6 +9,7 @@
     UniqueAggregation,
 )
 from polar.models import Event, Organization
+from polar.models.event import EventSource
 from polar.postgres import AsyncSession
 from tests.fixtures.database import SaveFixture
 from tests.fixtures.random_objects import create_event
@@ -189,3 +190,55 @@ async def test_unique(
         )
 
         assert await _get_aggregation_result(session, aggregation) == 3.0
+
+
+class TestAggregationMatches:
+    def test_count_always_matches(self, organization: Organization) -> None:
+        agg = CountAggregation()
+        event = Event(
+            name="test",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={},
+        )
+        assert agg.matches(event) is True
+
+    def test_property_matches_number(self, organization: Organization) -> None:
+        agg = PropertyAggregation(func=AggregationFunction.sum, property="amount")
+        event = Event(
+            name="test",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={"amount": 100},
+        )
+        assert agg.matches(event) is True
+
+    def test_property_not_matches_string(self, organization: Organization) -> None:
+        agg = PropertyAggregation(func=AggregationFunction.sum, property="amount")
+        event = Event(
+            name="test",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={"amount": "invalid"},
+        )
+        assert agg.matches(event) is False
+
+    def test_property_not_matches_missing(self, organization: Organization) -> None:
+        agg = PropertyAggregation(func=AggregationFunction.sum, property="amount")
+        event = Event(
+            name="test",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={},
+        )
+        assert agg.matches(event) is False
+
+    def test_unique_always_matches(self, organization: Organization) -> None:
+        agg = UniqueAggregation(property="user_id")
+        event = Event(
+            name="test",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={},
+        )
+        assert agg.matches(event) is True
diff --git a/server/tests/meter/test_filter.py b/server/tests/meter/test_filter.py
index 33cb15454d..ed0e9f4274 100644
--- a/server/tests/meter/test_filter.py
+++ b/server/tests/meter/test_filter.py
@@ -7,6 +7,7 @@
 from polar.kit.utils import utc_now
 from polar.meter.filter import Filter, FilterClause, FilterConjunction, FilterOperator
 from polar.models import Event, Organization
+from polar.models.event import EventSource
 from polar.postgres import AsyncSession
 from tests.fixtures.database import SaveFixture
 from tests.fixtures.random_objects import create_event
@@ -292,3 +293,121 @@ async def test_number_comparisons_clause(
 
         assert len(matching_events) == 1
         assert matching_events[0].id == events[1].id
+
+
+class TestFilterClauseMatches:
+    def test_matches_name_eq(self, organization: Organization) -> None:
+        clause = FilterClause(
+            property="name", operator=FilterOperator.eq, value="test.event"
+        )
+        event = Event(
+            name="test.event",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={},
+        )
+        assert clause.matches(event) is True
+
+    def test_matches_name_ne(self, organization: Organization) -> None:
+        clause = FilterClause(
+            property="name", operator=FilterOperator.eq, value="other.event"
+        )
+        event = Event(
+            name="test.event",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={},
+        )
+        assert clause.matches(event) is False
+
+    def test_matches_metadata_string(self, organization: Organization) -> None:
+        clause = FilterClause(
+            property="category", operator=FilterOperator.eq, value="api"
+        )
+        event = Event(
+            name="test",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={"category": "api"},
+        )
+        assert clause.matches(event) is True
+
+    def test_matches_metadata_missing(self, organization: Organization) -> None:
+        clause = FilterClause(
+            property="category", operator=FilterOperator.eq, value="api"
+        )
+        event = Event(
+            name="test",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={},
+        )
+        assert clause.matches(event) is False
+
+    def test_matches_metadata_number_gt(self, organization: Organization) -> None:
+        clause = FilterClause(property="amount", operator=FilterOperator.gt, value=100)
+        event = Event(
+            name="test",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={"amount": 150},
+        )
+        assert clause.matches(event) is True
+
+
+class TestFilterMatches:
+    def test_matches_and_conjunction_all_true(self, organization: Organization) -> None:
+        filter = Filter(
+            conjunction=FilterConjunction.and_,
+            clauses=[
+                FilterClause(property="name", operator=FilterOperator.eq, value="test"),
+                FilterClause(
+                    property="category", operator=FilterOperator.eq, value="api"
+                ),
+            ],
+        )
+        event = Event(
+            name="test",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={"category": "api"},
+        )
+        assert filter.matches(event) is True
+
+    def test_matches_and_conjunction_one_false(
+        self, organization: Organization
+    ) -> None:
+        filter = Filter(
+            conjunction=FilterConjunction.and_,
+            clauses=[
+                FilterClause(property="name", operator=FilterOperator.eq, value="test"),
+                FilterClause(
+                    property="category", operator=FilterOperator.eq, value="other"
+                ),
+            ],
+        )
+        event = Event(
+            name="test",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={"category": "api"},
+        )
+        assert filter.matches(event) is False
+
+    def test_matches_or_conjunction(self, organization: Organization) -> None:
+        filter = Filter(
+            conjunction=FilterConjunction.or_,
+            clauses=[
+                FilterClause(property="name", operator=FilterOperator.eq, value="test"),
+                FilterClause(
+                    property="name", operator=FilterOperator.eq, value="other"
+                ),
+            ],
+        )
+        event = Event(
+            name="test",
+            organization_id=organization.id,
+            source=EventSource.user,
+            user_metadata={},
+        )
+        assert filter.matches(event) is True