It requires the notary to observe the signing and the signer to scan or fax the physical document to the notary for his or her signature and stamp. "It is incredibly cumbersome to execute," she adds.

Most states require notaries to notarize documents by stamping them with an official seal and initialing the stamp. In some cases, notarization includes the preparation of a legal certificate.

Between 1 billion and 1.25 documents are notarized in the U.S. every year, and Kinsel estimates that Notarize is tapping into a $30 billion market.