Beam Solutions Inc., a financial compliance platform designed to prevent money laundering and other financial crimes, has raised $9 million in a seed, Series A and debt funding round led by Greycroft Ventures and Canaan, a prior investor in the firm, according to a company release.

Other investors in the round included Broadhaven, Conversion Capital, Plug and Play and Slow Ventures. Silicon Valley Bank provided a $2 million debt facility, the release said.

Beam uses data and machine learning to help banks, fintechs, cryptocurrency firms and broker dealers meet their financial compliance obligations. The firm was co-founded by CEO Ben Duranske, a former chief compliance officer at Facebook and veteran of PayPal, and chief technical officer Andreas Bayer, who handled compliance and technology issues at Xoom and PayPal.

"Just in the past year, we’ve seen money laundering schemes involving Amazon’s print-on-demand services, AirBNB condo rentals and even the video game Fortnite," Duranske said. "The bad guys are continually innovating their methods and finding new ways to attack."