The €18.7 million raised by Hostelworld this week across equity and short-term debt shows that the company can still convince financiers to back it in the face of Covid-19 uncertainty. Yet it is by no means out of the woods – as illustrated by the low appetite top executives and directors have shown to invest in their own plan for the business. On Thursday, the Dublin-based global hostel booking website announced that it had completed a share placing worth £13.8 million, with one unnamed existing shareholder pledging another £1 million in a conditional share subscription. If both go ahead, Hostelworld…

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