This $760 Million Electric Notary Company Is On Track To Becoming A Unicorn | Forbes

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Pat Kinsel, 36, started Notarize after selling his previous company, mobile-data collection firm Spindle, to Twitter in 2013 and realizing that the notary had failed to sign his documents. Without the signature, the documents became invalid, despite being stamped, a major headache for Kinsel.

Two years later, he founded Notarize to move the hassle of notarization online. With Notarize’s online service—including proprietary identification verification tools—customers can skip the trip to a notary and connect with a professional via video chat instead.

To start the business, he had to convince state and local regulators that online notarization using cameras could be as secure as that performed in person. His secret weapon: Cofounder Adam Pase, who had once worked as a policy advisor for Representative Dennis Moore (Dem.-Kansas) and spent seven years after that lobbying on behalf of entrepreneurs. Ultimately, the duo helped pass legislation allowing virtual notaries in 38 states, “I’ve got the scars and receipts,” Kinsel says.

For Kinsel, one of the worst scars came from litigation with his brother, John Kinsella, who sued in December 2016, via an Oklahoma-based entity called Corsa, alleging that Notarize had taken advantage of Corsa’s reputation in the Oklahoma business community. The suit, which was ultimately dismissed, ruined the brothers’ relationship. (Kinsella did not respond to requests for comment.)

Read the full story on Forbes: https://www.forbes.com/sites/ninawolpow/2021/10/07/next-billion-dollar-startups-notarize-online-notaries/?sh=7e99fe997490

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