She is an heiress to a billion-dollar fortune but money can't buy what emerging tennis star Emma Navarro truly craves.

Navarro takes on Iga Swiatek in the Australian Open quarter-finals on Wednesday hungry for the grand slam spoils her second-ranked opponent has already savoured.

Swiatek is a five-time major winner, while 23-year-old Navarro only arrived as a grand slam force at Flushing Meadows in September.

Now the daughter of billionaire founder of Sherman Financial Group Ben Navarro finally believes after cracking the world's top 10 and claiming her maiden WTA Tour title last year in Hobart.

"When I made the quarter-finals at the US Open, I felt, like, 'wow, this is pretty insane', but now being in quarter-finals here in Australia, it feels like this is where I'm supposed to be," Navarro said.

"I feel like this is what I prepared for and planned on. So, yeah, it's definitely different.

"I just go into grand slams with a bit more confidence than I used to."

The New York-born, Charleston-raised Navarro is playing Swiatek for the first time in seven years.

Their only previous meeting, when both were teenagers, was memorable for all the wrong reasons for Navarro, who suffered a 6-0 6-2 pummelling.

"When I look back at my tennis career, I feel like there were not too many times when I was totally blown off the court, and I definitely was kind of blown off the court playing her," the American said.

"I think maybe at the time she was ranked 200 or something. We played at my home club in Charleston. I was, like, 'wow, this girl is pretty good'.

"The circumstances are definitely different now. I feel like I'm pretty good, too. I'm ready for a good challenge."

Like Swiatek, Navarro was only 16 back then.

"I just feel like I kind of didn't have a chance, and I was a way different player in 2018 than I am now," said the Open's eighth seed.

"I felt like I didn't have the power, I didn't have speed, I didn't have really anything that could challenge her.

"I would just put balls in the court, and she would hit winners. It was like a little bit of a clinic.

"But I feel like I'm a totally different player now."

The winner will face either American world No.14 Madison Keys or 28th-seeded Ukrainian Elina Svitolina on Thursday for a place in Saturday night's final.

2-IGA SWIATEK (POL) leads 8-EMMA NAVARRO (USA) 1-0

2018 Charleston, clay, R32, Swiatek 6-0 6-2