Dollar Financial buying Swedish Internet lender

Dollar Financial Corp., which provides payday lending, check cashing and money transfer services, said today that it is buying Swedish Internet lending business Folkia Group AS for $28 million.

Berwyn-based Dollar said the acquisition provides an Internet and cell-phone lending platform for expansion within Northern Europe and Scandinavia and credit and finance licenses for expansion into other European Union countries.

Dollar Financial expects the acquisition to add to its earnings immediately and will update its fiscal 2011 outlook after the deal closes.

Shares of Dollar Financial rose 32 cents, or 2.12 percent, to $15.38 in morning trading.