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Finance

Woori Bank posts 18.4 percent Q3 returns on DC retirement pension products

Woori Bank recorded an 18.4 percent return in the third quarter on non-principal-protected defined contribution retirement pension products, the highest among the top 10 providers by retirement pension assets across banking, securities and insurance, it said. Its individual retirement pension return was 18.3 percent, ranking third. The bank said both DC and IRP rankings rose by one place from the previous quarter.

Finance

B2B fintech Ramp raises $1.85 billion, valued at $60 billion

B2B fintech startup Ramp has raised $1.85 billion through a new share issuance and was valued at $60 billion, Reuters reported on Oct. 15 local time. The round was led by Dragoneer Investment Group, with Thrive Capital, Founders Fund, Sands Capital and Avenir Growth as co-leads. Ramp, based in New York, provides corporate cards and expense management software. It has more than 85,000 corporate customers.

AI & Enterprise

ElevenLabs valued at $22 billion, doubling in 8 months

Voice AI company ElevenLabs said it has been valued at $22 billion after completing a $300 million tender offer for employee holdings. The valuation is about double the level from its Series D funding round in February. The deal was led by Wellington and T. Rowe Price, with new investors including Goldman Sachs and GIC as well as existing investors participating. The company said enterprise revenue accounts for 55 percent of total sales.