Queens, New York-based For 5 Espresso Roasters says it has raised a brand new spherical of progress capital to speed up nationwide enlargement via further roasting capability, extra cafes and wholesale and hospitality progress.
The corporate, based by Stefanos Vouvoudakis and Tom Tsiplakos in 2010, at present has 40 retail places all through the US, together with 21 standalone cafes and 19 places inside company and lodge venues, plus 12 further places underneath improvement.
The funding was led by Nicholas Karalis — former CEO and government chairman of BioMatrix Specialty Infusion Pharmacy, which was acquired by private-equity agency Frazier Healthcare Companions and later rebranded as LUX Infusion — and Michael Bapis, managing director at New York-based wealth administration agency Vios Advisors. Each have joined For 5’s board of administrators.
Monetary phrases weren’t disclosed.
“We’ve constructed For 5 with a relentless deal with execution, high quality, and the visitor expertise,” Vouvoudakis, who serves as CEO, stated. “With the assist of our new companions, we’re able to take the model to the subsequent stage — additional increasing our footprint and introducing a brand new customary for hospitality within the luxurious espresso area.”
Along with working cafes and roasting for wholesale shoppers from its Maspeth, Queens, roastery, For 5 has tied a lot of its retail progress to high-traffic industrial actual property in massive U.S. markets.
In 2019, DCN reported that workspace supplier Convene had made a serious funding in For 5, with plans to deal with For 5 bars in future co-working and occasion areas. That very same 12 months, For 5 introduced a separate cafe enlargement take care of Washington, D.C.-based Carr Properties, adopted in 2021 by a 10-year take care of company meals supplier Sodexo.
For 5 at present has greater than 300 staff, in line with the corporate.
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